China Not a Development Partner But Loan Shark in PNG

WHICH DONORS CONTRIBUTE THE MOST TO PNG? While discussing 2020 Budget papers many members of NEC were surprised to find out just how much PNG receives from our donor partners. (Facebook/Kramer Report)

Note: This post was later retracted by the writer)

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 K745m while China only contributes K7m
  • Australia K745.0 m (81%)  
  • European Union K80.0 m (8.7%) 
  • United Nations K41.7 m  
  • New Zealand K22.9 m
  • China K7.0m
  • USA K5.0 m 

In contrast when you look at it from how much we borrow, China tops the list on K450m. 
  • China K446.2 m 
  • ADB K437.6 m 
  • World Bank K185.50 m 
  • Japan K181.3 m 
  • India K7.7 m 
  • Australia K0.0 m 
Some countries are happy to lend us money where they benefit from the interest earned and conditional to their companies being awarded the contracts. Source National Planning Department 2020 Capital Investment Budget.

This piece of article is damning. Read here



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