Papua New Guinea – Lae Port Development Project: Additional Financing Loan

10 November 2011 - The Asian Development Bank has approved the following project:

Description:

The project will provide additional funds to expand the cargo handling capacity of Papua New Guinea’s largest sea port at Lae. This will clear the way for a sharp expansion in trade, as well as opening up new opportunities for industrial and commercial development.

Amount: $85.0 million in loan from ordinary capital resources and $4.12 million from the Asian Development Fund.

Project ID: 40037