The governments of Papua New Guinea and Australia recently entered into a memorandum of understanding (MOU) to develop a framework for cooperation in PNG's maritime infrastructure sector.
The MOU outlines cooperation between the Australian government, including through the Australian Infrastructure Financing Facility for the Pacific (AIFFP), the PNG government, and PNG Ports Corporation to support investment preparation activities with an estimated total value of PGK1.1 billion (US$310 million).
Mr William Duma, PNG Minister for Public Enterprises, said the improvements will mainly encompass rehabilitation of the country's ports, many of which were built by Australia during the colonial era and World War II.