19 Oct 2005

Asian Development Bank to give PNG extra US$18m for road upgrades

10:44 am on 19 October 2005

The Asian Development Bank is to give Papua New Guinea an extra US$18 million loan for road improvements over the next two years.

The bank says this will be in addition to US$42 million in loans for the road sector over the same period.

The bank also says it will give PNG a US$15 million grant for fighting HIV/AIDS.

The lending organisation says the final amount will be linked to Papua New Guinea's performance in fiscal and sector management.