Papua New Guinea - Port Project

CIRCULATING COPY RESTRICTED TO BE RETURNED TO REPORTS DESK Report No. P-1058 FILE COPY This report is for official use only by the Bank Group and specifically authorized organizations or persons. It may not be published, quoted or cited without Bank Group authorization. The Bank Group does not accept responsibility for the accuracy or completeness of the report. INTERNATIONAL DEVELOPMENT ASSOCIATION REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO PAPUA NEW GUINEA FOR A PORTS PROJECT April 12, 1972   INTRNATIONAL DEVELOPMENT ASSOCIATION REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED CREDIT TO PAPUA NEW GUINEA FOR A PORTS PROJECT 1. I submit the following report and recommendation on a proposed development credit of $9.2 million to Papua New Guinea to be relent to the Papua New Guinea Harbours Board (PNGHB) for a term of twenty-five years, including four years of grace, at an interest rate of 7