PNG Government Moves ahead on Commitment to affordable Housing

 PNG Treasurer Ian Ling-Stuckey met with the Vice President of the World Bank, Victoria Kwakwa, in May to discuss developments and objectives around World Bank support to Papua New Guinea. 

As part of these discussions, the Treasurer outlined the need for long term engagement between the World Bank and PNG, and the importance of providing support directly to the PNG budget, alongside the need to support key growth sectors outlined by the Marape Government.   

NCD Governor Parkop escorts Treasurer Ling-Stuckey to the lakeside housing project in Gerehu and invites the world banks IFC to participate in NCDC development projects.

“The World Bank has been a key and strategic partner for many years, and will be providing direct support towards implementing our budget this year”, said  Ling-Stuckey. 

“We are happy for the range of infrastructure, agriculture, health and education projects we are managing to get underway with the Bank, and look forward to expanding this over time”. 

The Treasurer also discussed with the World Bank’s sister organization, the International Finance Corporation (IFC) plans to provide a commercial project, constructing affordable and market rate housing in NCD.  The project aimed to provide around 1500-2000 dwellings, with 75% of them provided on an affordable basis to Papua New Guineans. 

The Treasurer committed in the discussions to supporting the IFC’s efforts to find available land, and alongside NCD Governor Powes Parkop, today inspected some potential options for state land that could be made available for the project. 

“I am very happy to be able to have made some substantial progress towards realizing this initiative today”, said the Treasurer.  

“Provision of affordable housing is an important part of the Government’s Take Back PNG platform – giving people ownership of assets, land and housing”.

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