Please forward this error screen to 209. With 189 member countries, staff from more 170 good investments for young people, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development.
We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. Papua New Guinea is one of the most culturally diverse countries in the world with over 800 languages and over a 1,000 distinct ethnic groups. Most of the country’s population live in rural communities and are faced with significant challenges in health, education and economic opportunity. Papua New Guinea’s population of 8 million is young and growing.
PNG’s growth trajectory and abundant resource potential provides a strong platform for economic engagement with Asia and further abroad. To diversify PNG’s asset base and increase employment, investment is needed to strengthen capacity in institutions, human capital, and physical infrastructure. Electricity, telecommunications, road and other transport infrastructure remain critical to enabling private sector-led growth. Obtaining more revenue from the mineral and petroleum sector by discontinuing the practice of providing significant tax concessions to companies operating in this sector will improve both the fiscal balance and the foreign exchange position in PNG. Further, translating revenues into strong, tangible improvements in living standards for all Papua New Guineans remains the key challenge for the Government of PNG, yet other challenges are also immense.
The current strategy aims to ensure everyone, regardless of their gender, where they live, or their social and economic circumstances, will benefit equally from Papua New Guinea’s development goals. It also seeks to promote prudent management of revenues. In Port Moresby, the Urban Youth Employment Project is providing thousands of young Papua New Guineans with life skills and short-term employment opportunities. 8 million from the Australian government. Poor road conditions mean that for many people in Papua New Guinea, travel by road can be impossible, unsafe or simply far too expensive. Without reliable access to roads, people cannot reach schools, hospitals or markets when they need to.
Now in its second phase, the World Bank’s Road Maintenance and Rehabilitation Project has already restored more than 800 kilometers of national roads. In the Autonomous Region of Bougainville, the Inclusive Development in Post-Conflict Bougainville project is supporting inclusive development and strengthening women’s participation in development. In February 2011, the PNG Department of Education began working with the World Bank to develop the READ PNG project: A K51. While access to education remains a key priority for the government, over 60 percent of PNG’s 8 million people live in rural areas with limited access to basic services. Through READ PNG, many thousands of books were delivered to more than 21,000 classroom libraries across PNG, with more than 12,000 teachers and facilitators receiving training to improve their skills in teaching reading.