Investment through JICA-Funded LEAP2 (Private Sector Investment Finance): Financing aircraft modernization and improving safety in Papua New Guinea
Papua New Guinea, Dec. 16 -- On December 9, the Asian Development Bank (ADB) signed a loan agreement for a total 35.8 million US dollars with Air Niugini Limited (Air Niugini), Papua New Guinea's national airline, of which 16.8 million US dollars will be provided through LEAP2.This facility is delivered in partnership with Export Finance Australia (EFA), which is also providing a matching facility for up to 35.8 million US dollars.LEAP2 is an ADB-managed fund with a commitment of up to 1.5 billion US dollars from JICA. It focuses on providing financing for high-quality private-sector infrastructure projects in ADB's developing member countries in Asia and the Pacific. Projects supported by LEAP2 include initiatives to reduce carbon emission...
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