Bougainville gets K621M restoration grant

PAPUA New Guinea has paid the Autonomous Bougainville Government K621 million following a joint supervisory board meeting in Arawa between Ishmael Toroama and James Marape.
Bougainville gets K621M restoration grant Bougainville gets K621M restoration grant Bougainville gets K621M restoration grant Bougainville gets K621M restoration grant Bougainville gets K621M restoration grant

Ishmael Toroama with James Marape

Staff Reporter

At the meeting PNG and the ABG set out a basic framework for consultations over the outcome of Bougainville's independence referendum, Radio New Zealand Pacific reported.
 
Toroama described the meeting as one of the first important steps forward since the historic 2019 referendum in which nearly 98% of Bougainvilleans voted for independence from PNG, a result which would have to be ratified by PNG's parliament in order to come into effect.
 
"The outstanding amount of K621 million ($173.5-million) in restoration development grants has been outstanding for the last 18, 19 or so years," Marape said.
 
Marape also announced the immediate release of K146.7 million to the ABG as the first instalment of its 2021 allocation.
 
Other issues discussed at the meeting included the transferral of shares in Bougainville Copper Ltd to Bougainville, fisheries, taxation, funding for small and medium enterprises, and foreign mission offices in Bougainville.
 
Marape said a planned Bougainville economic and investment summit should take place in the first half of this year.

 

topics

loader
  • NEW: Digital version of PNG Report magazine - View here
  • Porgera: Barrick-PNG talks go on - Read more
  • Follow the companies investing in the PNG market - Read more