PORT MORESBY, PAPUA NEW GUINEA – The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) today signed grant and project agreements to help PNG build its resilience to the impacts of climate change.
“The assistance will help PNG raise its development planning capacity, allowing the government to scale up investments in climate resilience,” said Marcelo Minc, ADB Country Director in PNG, who attended the signing ceremony in Port Moresby together with Patrick Pruaitch, Treasurer and ADB Governor, and John Pundari, PNG Minister for Environment, Conservation and Climate Change.
ADB is providing a $24.25 million grant sourced from ADB’s Strategic Climate Fund so PNG’s Strategic Program for Climate Resilience will be able to integrate climate risk and resilience planning into development policies in vulnerable communities on 21 islands and atolls in the provinces of Bougainville, East New Britain, Manus, Milne Bay, and Morobe.
The project also seeks to conduct climate change and vulnerability assessments and preparing adaptation plans for these vulnerable communities; pilot sustainable fishery ecosystems and food security investments in some target areas; and establish a framework for climate-resilient infrastructure. An early warning system linked to PNG’s National Disaster Center will be improved.
According to ADB’s Economics of Climate Change in the Pacific report, PNG’s economy is likely to suffer the biggest losses from climate change in the Pacific.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2014, ADB assistance totaled $22.9 billion, including cofinancing of $9.2 billion.