Papua New Guinea: Civil Aviation Development Investment Program (Tranche 1)
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In December 2009, the Board of Directors of the Asian Development Bank (ADB) approved a $480 million multitranche financing facility (MFF) to support a planned $640 million investment program for Papua New Guinea's aviation sector. The MFF was considered highly suitable for financing the investment program because of low commitment charges that would be levied on PNG and physical implementation would be slow based on previous experience in PNG projects. This financing facility would support the government’s long-term vision for the civil aviation sector and sustain long-term partnership with ADB, which is needed for institutional capacity building. It would also provide long-term opportunities to private companies interested in PNG’s civil aviation sector.
A project completion report for the first tranche was prepared in September 2016 and is the subject of this validation report. IED overall assessment: Successful.