Photo credit: The Christensen Fund - Markham Valley
Agriculture development in the Markham and Ramu valleys of Papua New Guinea's Morobe Province, according to the International Finance Corporation, might result in significant economic advantages.
The International Finance Corporation (IFC), which is part of the World Bank Group, has teamed together with Australian and New Zealand aid programs to create a strategy for the Markham/Ramu Agricultural Growth Corridor.
This involves a development strategy and an investment strategy to boost agricultural growth.
The IFC noted as PNG responds to the implications of Covid-19, the development of this corridor may promote exports and investment, local production and commerce, and employment.
Simultaneously, it will improve food security.
The agricultural transformation is a long-term undertaking, according to the report, but there are a number of actions that may be completed sooner.
Animal protein, animal feed, fruit and vegetable production, and cocoa production are all examples.
Nathan Ross, New Zealand's deputy high commissioner in PNG, said his nation has been assisting PNG's agriculture and energy sectors in order to help the country accomplish its economic growth goals.
He stated that they have partnered with the IFC to build the agricultural growth corridor, recognizing that private sector-led growth is a major development objective.
Reference: RNZ (23 November 2021. “IFC promotes PNG agriculture”.
