Port Moresby, 24 July 2025 – Prime Minister James Marape today welcomed Anna Bjerde, managing director for Operations at the World Bank, to Papua New Guinea for high-level discussions on the country’s development progress, fiscal reform and enhanced partnership with the World Bank Group.
Bjerde, who was accompanied by senior World Bank leadership, commended Papua New Guinea’s positive economic trajectory and acknowledged the Marape Government’s commitment to fiscal consolidation and economic reform.
During the meeting, Marape highlighted the significant upscaling of World Bank support to Papua New Guinea — from US$475 million in 2023 to US$709 million in 2025. This increase reflects growing international confidence in PNG’s reform agenda and underscores the country’s strategic importance in the Pacific region.
The Prime Minister acknowledged the World Bank’s crucial assistance in key sectors such as energy, education, youth employment, rural service delivery and human capital development. Among the flagship projects discussed were:
- A US$204 million renewable energy project supporting clean and green energy access
- A US$160 million education sector project to strengthen learning outcomes and expand access
- A US$100 million second phase of the Rural Service Delivery Project to improve basic services in remote areas
- Ongoing urban and youth-focused programmes in Lae, NCD and other urban centres
“These investments are not just about infrastructure — they are about improving lives, creating jobs and lifting our people out of poverty,” Marape said.
Marape reaffirmed his government’s target to return to a balanced budget by 2027 — the first since 2010. He noted that over the past five years, the national budget deficit has been reduced by approximately K1 billion each year, and that this trend will continue into 2026.
“We are charting a bold path to economic independence. After 2027, our focus will shift from borrowing to aggressive debt repayment, and by 2033–2035, we aim to be debt-free. By 2045, we want to be a net contributor to the World Bank and IMF, not just a borrower,” the prime minister said.
He also briefed Bjerde on the Government’s economic vision, which he previously shared with the IMF’s Deputy Managing Director in Washington, reaffirming PNG’s commitment to grow the economy through trade rather than aid.
For her part, Bjerde welcomed Papua New Guinea’s ambitions and acknowledged the Government’s progress. She also commended the country’s strong fiscal direction and pledged the World Bank’s continued support, including in debt restructuring and climate resilience efforts.
She also expressed interest in supporting the Government’s broader goals of labour mobility, education partnerships and poverty alleviation, while reaffirming the World Bank’s readiness to collaborate on clean energy expansion and environmental protection.
Marape expressed appreciation for the World Bank’s growing engagement in Papua New Guinea and extended an invitation to host the President of the World Bank in a future visit. He stressed that partnerships must be grounded in long-term impact, not short-term relief.
“Our ambition is clear: to grow our economy, create more opportunities for our young people, protect our environment and become a stronger, more independent nation that contributes to the global development community,” he said.
