By postcourieronline

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Asian Development Bank (ADB) President Masato Kanda met with Papua New Guinea (PNG) Prime Minister James Marape to mark the country’s 50th anniversary of independence and reaffirm ADB’s role in driving connectivity and inclusive growth.

He will also meet with Treasurer Ian Ling-Stuckey and other government officials later this week.

During the meeting, Mr. Kanda highlighted ADB’s $2.14 billion investment pipeline for 2025–2028, focused on improving transport links, expanding skills training, and fostering private sector growth.

“ADB’s partnership with Papua New Guinea demonstrates how strategic investments transform lives,” said Mr. Kanda.

“Our active sovereign portfolio has grown over three-fold since 2010, and we will continue to expand opportunities for a brighter future in Papua New Guinea.”

ADB is PNG’s largest multilateral development partner, supporting projects that deliver measurable results. ADB’s investments in PNG’s road network and civil aviation have lowered transportation costs, reduced travel times, improved safe movement as well as increased connectivity and by doing so giving people better access to markets and services.

Recent investments include the improvement of 430 kilometers of roads as well as reconstruction and rehabilitation of 71 aging bridges along the Highlands Highway to enable year-round trade. In addition, ADB has upgraded 18 national airports to ensure compliance with international safety and operational standards.

ADB’s investments in PNG complement the bank’s broader Pacific strategy, where improved transportation and skills development strengthen economic ties and resilience across island nations facing similar development challenges.

Following today’s meetings, Mr. Kanda will tour Port Moresby Technical College to observe firsthand how ADB’s education investments, which can produce 7,000 graduates annually, are developing skilled workers for PNG’s growing economy. He will then visit the Laloki Bridge, which is flood resilient, and enhances access to markets and social services.

Mr. Kanda commended PNG’s progress on economic reforms, highlighting the reduction of the fiscal deficit from 8.9% in 2020 to 3.9% in 2024. ADB is now preparing its 2026–2030 country partnership strategy to strengthen connectivity and expand into new sectors such as agriculture and urban water supply.

ADB is a leading multilateral development bank supporting inclusive, resilient, and sustainable growth across Asia and the Pacific. Working with its members and partners to solve complex challenges together, ADB harnesses innovative financial tools and strategic partnerships to transform lives, build quality infrastructure, and safeguard our planet. Founded in 1966, ADB is owned by 69 members—50 from the region.