Australia Gives $570 Million Loan to Papua New Guinea, Bringing Total Commitment to $3 Billion

Treasury says the loan ‘involves no cost to the Australian taxpayer.’

Australian Prime Minister Anthony Albanese (R) shakes hands with Papua New Guinea Prime Minister James Marape at a press conference in Sydney, Australia, on Dec. 12, 2024. AP Photo/Mark Baker

The federal government has given another $570 million (US$356.41 million) to Papua New Guinea (PNG), bringing the total amount provided by Australia since 2020 to $3 billion.

Treasury says it “involves no cost to the Australian taxpayer,” but the loan has only been revealed in a National Interest Statement, presented as Parliament returns for what will be a busy period ahead of the election.