Date Time
Sustainable Economic Recovery focus for World Bank support to Papua New Guinea
The World Bank Board of Executive Directors today approved a US$100 million (PGK 352 million equivalent) operation to support Papua New Guinea in its response to COVID-19, and to lay important foundations for a sustainable recovery.
With Papua New Guinea’s economy entering the COVID-19 crisis with limited resilience to external shocks, the pandemic has led to a sharp economic contraction, higher unemployment and considerably more Papua New Guineans falling into poverty, particularly women and young people.
The Papua New Guinea Crisis Response and Sustainable Recovery Development Policy Operation aims to strengthen PNG’s health system, support livelihoods of vulnerable households and small businesses; and lay vital foundations for a more sustainable economic recovery.