Papua New Guinea
PSDI is working with the Government of Papua New Guinea to help make PNG a safer, more productive, easier, and more inclusive place to do business.
PSDI is working with the Government of Papua New Guinea to:
Increase the availability of private sector credit by supporting the utilization of the secured transactions framework established in 2015, and advising on the introduction of alternative capital-raising platforms;
Promote entrepreneurship and foreign direct investment, particularly through providing ongoing assistance and advice to PNG’s Investment Promotion Authority;
Improve the efficiency and transparency of state-owned enterprises, by enabling public-private partnership transactions, developing a Community Service Obligation Policy for SOEs, and including PNG in PSDI’s Finding Balance SOE benchmarking studies;
Develop the technical and cross-cutting capacity of PNG’s Independent Consumer and Competition Commission;
Increase access to finance and financial services, by supporting the development of MiCash (a mobile phone linked bank account) and funding the design of the Microfinance Expansion Project (MEP); and
Remove barriers to women’s participation in the formal economy through pilot initiatives helping businesswomen enter the formal economy and helping women professionals reach leadership positions.
Resources and Spending
PSDI’s activities in Papua New Guinea (PNG) have rapidly expanded since 2015 due to an additional $8.08 million in funding provided for Phase III by the Government of Australia. Similar additional funding for PNG has been again committed by the Government of Australia for PSDI Phase IV. These funds are being used to support expanded requests from the Government of Papua New Guinea to improve the enabling business environment across all of PSDI’s work areas: financing growth, business law reform, competition and consumer protection, further support for reforming state-owned enterprises (SOEs), implementing the public-private partnership (PPP) framework, and mainstreaming economic empowerment of women into PSDI projects.
A PSDI coordinator has been based at the Asian Development Bank’s (ADB) Papua New Guinea Resident Mission since January 2010. The expansion of PSDI’s program in PNG has necessitated the engagement of an additional coordinator since November 2016. The coordinators promote effective private sector development policies and practices through dialogue with the government and other stakeholders and support the implementation of PSDI initiatives.
On this website, $ refers to US dollars unless otherwise stated.
For detailed information on PSDI activities in Papua new Guinea, download the April 2020 PSDI Country Overview here.
Papua New Guinea at a glance
Secured transactions framework
27,000 securities registered
Agricultural Value Chain Loan
Consumer and Competition Framework
Private sector assessment
Public-Private Partnerships Act
The Investment Promotion Authority, Department of Treasury, and PSDI illustrated their continued partnership by signing a Memorandum of Understanding on 2 September 2020 designed to make doing business easier in PNG.
The Investment Promotion Authority, Department of Treasury, and PSDI, with support from the PNG-Australia partnership, signed a memorandum of understanding designed to make doing business easier in Papua New Guinea. (News item courtesy of EMTV).
Papua New Guinea (PNG) now has a National Competition Policy which aims to improve economic efficiency, promote sustainable and inclusive economic growth, and increase consumer welfare through the promotion and maintenance of fair and effective competition in all markets in PNG’s economy.
In the Pacific, women are under-represented in senior professional and #leadership roles. PSDI works with partners to deliver training and mentoring to help prepare professional women for leadership positions.
In Morobe Province, Papua New Guinea, a group of women produce growers will soon be able to access the finance they need to increase their productivity and grow their businesses, thanks to an innovative new loan product developed by Women’s Micro Bank (WMB), NKW Fresh Produce, and PSDI.