During a September 2025 visit to Port Moresby, the Asian Development Bank (ADB) celebrated 50 years of operations in Papua New Guinea while revising its Pacific economic outlook upwards.
The ADB credited Papua New Guinea’s mining, LNG and infrastructure sectors for driving stronger growth prospects across the region. Its updated forecast projects Pacific growth at 3.5 per cent for 2025, with Papua New Guinea contributing the bulk of the improvement.
ADB President Masatsugu Asakawa met Prime Minister James Marape and senior officials to reaffirm the institution’s commitment to Papua New Guinea’s development priorities. He said ADB would continue supporting transport, energy, and urban services projects, with an emphasis on climate resilience and local participation.
The anniversary event highlighted landmark projects such as the Highlands Highway rehabilitation, energy access programs, and digital infrastructure initiatives that have transformed connectivity. Officials from both sides agreed to enhance cooperation in renewable energy, financial inclusion and sustainable infrastructure.
The ADB also expressed readiness to mobilise co-financing from partners including Australia, Japan, and the World Bank. While the growth outlook has brightened, the Bank cautioned that diversification remains critical to insulating Papua New Guinea’s economy from commodity volatility. Its Pacific Economic Monitor report recommended greater investment in human capital and small business development.
As Papua New Guinea moves beyond its 50th year of independence, ADB’s milestone underscores the enduring partnership and shared vision for inclusive, resilient growth.
