Strengthening Green Finance for a Sustainable Future in PNG
February 27, 2025
The Green Finance Centre (GFC) is playing a crucial role in advancing sustainable finance in Papua New Guinea (PNG), with recent developments showcasing its potential. In a recent strategic meeting, Muhammad Ali Shaikh, the newly appointed Country Representative for the Global Green Growth Institute (GGGI), engaged with key stakeholders including Benoit Chassatte, Country
Representative of the Agence Française de Développement (AFD) in the Pacific, senior executives from the European Investment Bank (EIB) Regional Office, and PNG leadership.
The primary focus of the meeting was to bolster international partnerships that would drive sustainable economic growth and green investments across the Pacific region. A significant point of discussion was the Inclusive Green Finance Project in PNG, which aligns with the broader Greening the Pacific Financial System Program. A highlight of the conversation was the ongoing work of the Green Finance Centre (GFC), which is supported by GGGI and led by the Bank of Papua New Guinea (BPNG) to mobilize climate finance and foster green investment.
The GFC is designed to promote low-carbon, climate-resilient growth, build green investment frameworks, and support the development of sustainable projects across the country. With backing from AFD and the EIB, both institutions aim to inject expertise and resources into driving impactful projects in PNG, ensuring that development is not only sustainable but also inclusive and equitable.
The meeting also underscored the importance of expanding financial inclusion through the Inclusive Green Finance Project, which seeks to integrate green finance into national policies, strengthen local financial institutions, and support sustainable entrepreneurship. By partnering with AFD and EIB, Shaikh highlighted the potential to open new pathways for climate-resilient development in PNG.
Both Shaikh and Chassatte emphasized that these partnerships will create new opportunities for a sustainable and inclusive economic future in PNG, reinforcing the nation’s commitment to a greener economy and broader financial transformation in the Pacific.