Signing of Record of Discussions on Technical Cooperation Project with Papua New Guinea: Contributing to improved transparency of resource-development information
On October 18, the Japan International Cooperation Agency (JICA) signed a Record of Discussions with the Government of the Independent State of Papua New Guinea in Port Moresby for the Project for Improving Resource Related Revenue Management Phase 2, a technical cooperation project.
Papua New Guinea is blessed with natural resources such as oil, natural gas, and minerals, and industries involved in extracting these resources account for 30% of the country’s GDP and 90% of all exports.
In order to ensure that the benefits generated by the extractive industries are distributed throughout the country, the Government of Papua New Guinea has joined the Extractive Industries Transparency Initiative (EITI)—a multilateral cooperative framework—to promote responsible resource development through efforts to increase the transparency of the financial flows generated by the extractive industries.
However, there remains room for improvement in the systemization of the information disclosure necessary to ensure the transparency of these efforts and the assurance of the desired reliability.
This project will contribute to improving the transparency of resource-related information in Papua New Guinea by increasing the accuracy of data and information related to resource extraction and by systematizing the information provision process.
This project will thereby also contribute to the achievement of SDGs (Sustainable Development Goals) Goal 17 (Partnerships for the goals).
Details for the project are provided below.
|Independent State of Papua New Guinea
|the Project for Improving Resource Related Revenue
Management Phase 2
|Planned implementation period
|PNGEITI Secretariat, Department of Treasury
|the whole country
|Specific project details (provisional)
|This project will provide technical cooperation through the
dispatch of experts and the implementation of training in order
to achieve the following three goals.
(1) The auditing of resource-related information in accordance
with EITI standards.
(2) The attachment of reliable evidence to resource-related
information when it is disclosed.
(3) The disclosure of resource-related information in a timely