BRYAN KRAMER MP
| The Kramer Report
PORT MORESBY - While discussing the 2020 budget papers, many members of Papua New Guinea’s national executive council (cabinet) were surprised to find out just how much PNG receives from our donor partners.
In 2020 PNG will receive close to K1 billion in free development funds to assist us in our development goals.
Topping the list was Australia contributing K745 million while China only contributes K7 million.
Here are the top six donors:
Australia K745.0 million (81%)
European Union K80.0 million (8.7%)
United Nations K41.7 million (4.5%)
New Zealand K22.9 million (2.5%)
China K7.0 million (0.8%)
USA K5.0 million (0.5%)
In contrast when you look at it from how much we borrow, China tops the list:
China K446.2 million
Asian Development Bank K437.6 million
World Bank K185.5 million
Japan K181.3 million
India K7.7 million
Some countries are happy to lend us money where they benefit from the interest earned and conditional on their companies being awarded contracts.