Pacific Marine Industrial Zone

PMIZ loan from China is a terrible deal for PNG

On 10 Mar, 2011 By tok stret

By PMIZ Watcher

The loan agreement signed between the Papua New Guinea government and China's Eximbank, to fund development of the Pacific Marine Industrial Zone is a terrible deal for PNG.

Putting aside the fact that PMIZ promises to be a disaster for Madang, repeating and expanding all the terrible social and environmental impacts of the existing RD Tuna fishing project, the US$70 million loan agreement signed with China means PNG will be paying for China's continued economic expansion and business profits.

ADB contradicts govt claims over PMIZ

On 09 Mar, 2011 By Effrey

ACT NOW! says the Asian Development Bank has denied it is involved in supporting the government's controversial Pacific Marine Industrial Zone (PMIZ) in Madang.

ADB Country Director, Charles Andrews has told ACT NOW! "the ADB has no involvement in this project what-so-ever".

This denial contradicts government documents that claim the ADB and has been actively supporting the development of the PMIZ by providing technical advice and expertise and is a potential funder.

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