Courtesy call by Ambassador Kuniyuki Nakahara to Hon. Soroi Eoe, Minister for Foreign Affairs and International Trade and the Signing Ceremony for the Exchanges of Notes on a financial assistance for urgent Covid-19 response and on a grant assistance for an electrification project
On 29 January 2021, H.E. Nakahara Kuniyuki, Ambassador of Japan to PNG paid a courtesy call to Hon. Soroi Marepo Eoe, Minister for Foreign Affairs and International Trade of the Independent State of Papua New Guinea, and exchanged views on bilateral relationship between Japan and PNG
Then, Ambassador Nakahara and Foreign Minister Eoe attended the Signing Ceremony for the financial assistance for PNG’s urgent Covid-19 response and for the grant for the “Project for Economic and Social Development Program for electrification”.
The government of Japan extends a loan of 30 billion yen or approximately 1 billion kina for urgent Covid-19 response. This financial assistance has favorable conditions such as an interest rate of 0.01% a year, and the repayment period of 15 years, including the grace period of 4 years. The anticipated outcome of this assistance includes conquest of the Covid-19 and recovery from the economic difficulties.
Japan also provides a grant assistance of 1 billion yen or approximately 32million kina for an electrification project which will support to extend grid lines to about 5,000 households mainly in the Ramu grid area. As a partner of the PNG Electrification Partnership or PEP, Japan will contribute to achieving the target of 70% electrification in PNG by 2030 and is optimistic of this project’s positive impact on the PNG economy.