IFC Invests in TWM Group to Spur Papua New Guinea's Waste Management Industry, Create Jobs, and Drive Innovation and Sustainability
Papua New Guinea, Sept. 24 -- Creating jobs, protecting public health, and building a more sustainable environment are central to Papua New Guinea (PNG)'s growth as the country marks 50 years of independence and 50 years of partnership with the World Bank Group (WBG). To help advance these goals, the International Finance Corporation (IFC), a member of the WBG focused on the private sector, is investing $10.2 million in TWM Group, the country's leading waste management company, through a PNG kina-denominated fixed-rate loan.The financing, supported by the World Bank's IDA Private Sector Window, will enable TWM to develop the country's first integrated waste facility meeting international standards, reducing unmanaged waste and safeguarding ...
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