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Overview

China Eximbank provides loan worth PGK 419.7 million for Buna Water Supply System Project

Commitments (Constant USD, 2023)$128,349,031
Commitment Year•2018Country of Activity•Papua New GuineaDirect Recipient Country of Incorporation•Papua New GuineaSector•Water Supply And SanitationFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Papua New Guinea

Implementing agencies

State-owned companies

  • Water PNG

Loan desecription

China Eximbank provides loan worth PGK 419.7 million for Buna Water Supply System Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, the Export-Import Bank of China provided a loan for the Bunu Water Supply System Project in Papua New Guinea. The total cost of the project is 475.4 million Kina, the Exim Bank loan will finance 88% of the project and PNG will finance the final 12%, 55.7 million Kina (source: VOLUME 3B PUBLIC INVESTMENT PROGRAM FOR STATUTORY AUTHORITIES AND PROVINCIAL GOVERNMENTS 2019 – 2023). The project will provide a clean water supply to the North West elecorate of Port Moresby, the commercial site of the LNG plant, and the Napanapa, Motukea, and Motuan communities. Water PNG, Ltd. will maintain the project once it is completed. Water PNG also won the construction supervisor contract for the project on March 25, 2019 (source: TC # 52/2019: CONSTRUCTION SUPERVISION, Bunu Water Supply Project). The project is expected to be completed in 2025. The loan has yet to be confirmed as of 2019 (source: Water companies merger queried, VOLUME 3B PUBLIC INVESTMENT PROGRAM FOR STATUTORY AUTHORITIES AND PROVINCIAL GOVERNMENTS 2019 – 2023).