• India offers $100 million for infrastructure fund to Papua New Guinea

    Seeking to strengthen bilateral ties and ensuring energy security, India today offered a USD 100 million line of credit for development of infrastructure in Papua New Guinea (PNG) and agreed to jointly develop new avenues of cooperation to explore and develop the Pacific nation’s vast oil and gas resources.

    India, during a meeting between visiting President Pranab Mukherjee with his PNG counterpart Sir Michael Ogio, also offered a coastal surveillance radar system and Coast Guard patrol vessels to the country as part of its commitment for the mutual maritime security initiative.

    After the completion of the maiden two-day visit to PNG by President Mukherjee, the two sides in a joint statement highlighted various international and regional issues including terrorism, India’s candidature for permanent membership of the UN Security Council and maritime security.

    The two sides agreed to establish a mechanism for regular consultations between the foreign ministries of both countries aimed at diversifying bilateral cooperation in areas of shared interest.

    “Keeping in view India’s desire to achieve energy security, PNG agreed to develop new avenues of cooperation with India in exploration and development of Papua New Guinea’s vast oil and gas resources through joint ventures and Indian public and private sector investment in new and existing projects,” the joint statement said.

    A deal for extending an Indian line of credit of USD 100 million for development of infrastructure in PNG was also signed.

    PNG announced a visa-on-arrival facility for Indian tourists travelling to the Pacific Island as a “gesture of reciprocity” as India has already approved a similar facility for the nationals of all Pacific Island countries since last year.

    India also announced providing retro-viral drugs and equipment for the treatment of 20,000 HIV patients in PNG for a period of one year.

    Both leaders also witnessed signing of the Memorandums of Understanding on agriculture research cooperation between University of Technology in Lae in PNG and the Indian Council of Agricultural Research (ICAR).

    The two sides finalised and signed a MOU for broad ranging cooperation in the health sector. Cincinnati Bengals Jersey

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