Manila, Dec 17 (IANS) The Government of Papua New Guinea and the Asian Development Bank (ADB) have signed a policy-based loan of $100 million to improve governance and accountability across the public sector, the bank said on Tuesday.
The ADB said the Strengthening Public Sector Management Program supports the government’s efforts to enhance fiscal management, improve state-owned enterprise governance, and strengthen accountability institutions in the country, Xinhua news agency reported.
“The program will support the government in strengthening legal, regulatory, and institutional frameworks for improved governance and accountability in the country while also building in climate change considerations into public sector management,” said ADB Country Director for Papua New Guinea Said Zaidansyah.
Earlier on December 13, the ADB approved a $30 million loan to support Public-Private Partnership (PPP) projects in the Philippines and help the country strengthen infrastructure development, advance climate action, and enhance economic competitiveness.
The ADB said the loan will replenish the Project Development and Monitoring Facility managed by the government’s Public-Private Partnership Centre to support the design and implementation of bankable PPP projects.
It will also help enhance the capacity of implementing agencies and local government units to develop and manage these projects, added the bank.
The loan is expected to support up to 35 national and local PPP projects from 2025 to 2029. All projects will undergo climate risk screening and management to ensure alignment with the Philippines’ nationally determined contribution.
These projects promise to improve railways, roads, transport networks, and essential community facilities.
“The Philippines is considered one of the leaders in Asia and the Pacific region in using PPPs as a modality for addressing infrastructure gaps and pursuing sustainable growth and development,” ADB Philippines Country Director Pavit Ramachandran said.
The ADB is a regional development bank established on 19 December 1966, which is headquartered in 6 ADB Avenue, Mandaluyong, Metro Manila 1550, Philippines. The bank also maintains 31 field offices around the world to promote social and economic development in Asia.
–IANS
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