Ling-Stuckey Meets Head Of European Union
Treasurer, Ian Ling-Stuckey was briefed by the head of the European Union delegation to PNG Jernej Videtic, on current assistance levels.
This was the Treasurer’s first meeting with the organisation to discuss development co-operation in relation to the EU’s assistance to PNG.
In particular, potential areas of engagement are especially in trade and investment, rural development, water and sanitation and good governance and policy reforms.
Mr Ling-Stuckey said the discussions were based on EU’s assistance;
The public finance management sector and how the Government can utilise the technical assistance modality in Treasury and Finance Department:
The EU – PNG business council;
Foreign business investors;
Engagement with EU member states; and,
The need and importance of setting up a national trade office
Mr Ling-Stuckey said he would explore the investment window, a modality whereby grant funding is used to mobilise additional investment monies in co-operation with investment banks.
He said, although PNG has traditional multilateral development partners like the World Bank and the Asian Development Bank, EU has presented the opportunity to look beyond these partners, especially to partner with the European Investment Bank.
PNG is a party to the Cotonou Partnership Agreement which is the development co-operation framework that the EU operates within.
It is a treaty between the EU and the African, Caribbean and Pacific Group of States.