Sustainable Economic Recovery focus for World Bank support to Papua New Guinea
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 peop...