The country, along with other APEC members, is also chipping in for the summit, covering about a third of the cost.
Infrastructure Challenges for Papua New Guinea
Chinese loans have helped redevelop a port and airport in the second largest city, Lae. It also imports natural gas from Papua New Guinea and has invested in nickel mines, power stations and other projects. For Beijing, the program is a way to expand business and trade and extend strategic influence, in part by distributing loans.
Papua New Guinea is no exception. Abel, said he has been closely following the loans offered by China to small Pacific nations.
Best eaterie in POM - Review of Fusion Bistro, Port Moresby, Papua New Guinea - Tripadvisor
The shortfall has weighed on the commodity-dependent economy. Write to Rob Taylor at rob.
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Australia, the former colonial power in Papua New Guinea, remains its largest donor of conventional foreign aid. Its assistance, spread across the country and aimed at improving bare bones public services and the capacity of government, is less visible.
In September, the Australian government announced it would pay for what is typically a commercial venture - a high-speed undersea cable linking Australia, Papua New Guinea and the Solomon Islands that promises to make the internet and telecommunications in the two island countries faster, more reliable and less expensive. It is also boosting its diplomatic presence, opening more embassies to be represented in every Pacific island state. Associated Press writer Jim Gomez contributed to this report. China woos Pacific islands with loans, showcase projects.
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In this Nov. Connect with the definitive source for global and local news. The Associated Press.