K170 million World Bank money not used

PORT MORESBY - Papua New Guinea Treasurer, Don Polye says it's a shame for the country not to have used allocated funds from the World Bank for the improvement of the country's economy.

In 2012, the World Bank provided K170 million (US$77.7 million)as concessional loans for various projects.

However, according to the 2012 final budget outcome, the funds have not been used for various reasons.

Polye said the World Bank is equally concerned.

He revealed this on arrival back from Washington attending a meeting with the World Bank and the International Monetary Fund.

Polye promised to investigate why these funds were not spent.

"I would like to have the ministers, minister finance, minister national planning and myself as the senior budget ministers under the direction of prime minister Peter O'Neil and the deputy prime minister Leo Dion, I'd like to have that reviewed as to why the 170-million was not spend when the money is verily available.

"It was budgetted.

"I did put that money into the budget but the implementation has been very very lacking.

"We must improve that.

"We cannot go on and borrow more and more money without spending the money that we have and incur extra costs," Polye said.

Polye appealed to public servants to be proactive in implementing and making use of facilities available. [IslandBusiness]
Bagikan ke Google Plus

0 komentar:

Post a Comment

Note: Only a member of this blog may post a comment.