August 9, 2013
JICA Representative delivering his presentation at Holiday Inn in Port Moresby
On 9th August, 2013, JICA PNG Office held, in collaboration with Department of Treasury of Papua New Guinea, a Japanese ODA Loan seminar in Port Moresby.
Today, demand for the ODA loan—otherwise known as the Yen Loan— is all-time high in Papua New Guinea. Recent economic growth has created a favourable environment for the PNG Government to actively invest in public infrastructure development. The growing number of inquiries in the recent years tells us a lot about this trend.
In response, our Yen loan seminar targeted PNG's government officials and state-owned enterprises representatives primarily in transportation (road, port, and airport) and education sectors to familiarize the audience with the Yen Loan.
Various topics were covered in the seminar. After we briefly introduced JICA activities in PNG, Ms. Lumbe Silai of the Department of Treasury gave an overview and implication of Yen Loan projects in PNG, where she explained that the Government of Japan has successfully implemented 17 Yen Loan Projects (including 2 ongoing ones) in road, water and sanitation, hydropower and electricity, airport, and agriculture sectors. JICA officers then gave presentations on terms and conditions of Yen Loan project (interest rate, procurement, and project cycle) and some practical tips (ownership of the PNG government, budgetary requirement, and maintenance and operation cost).
We also actively exchanged views and opinions with participants during the Seminar's Question and Answer Session. Some comments were made by participants on the interpretation of particular terms under the Yen Loan project and procurement guidelines, to which we answered with specific examples. Overall, we find that the seminar was a great success as all participants—including ourselves— learned something new to take home with.
Last but not least, we would like to thank Department of Treasury for their kind support extended to this seminar. The success of the seminar would not have been achieved without their contribution. JICA, a trusted donor partner, will work closely with the Government of PNG and continue to support its development efforts.