The Papua New Guinea (PNG) Partnership evolved from the regional Pacific Partnership, established in 2015. Initially a sub partnership, it became a standalone initiative in 2017. The Partnership originally included Australia’s Department of Foreign Affairs and Trade (DFAT) and the International Finance Corporation (IFC), with New Zealand’s Ministry of Foreign Affairs and Trade (MFAT) joining in June 2017. Although the IFC–MFAT–DFAT PNG Partnership formally concluded on 30 June 2023, it has been extended with DFAT alone through to March 2025.
The Partnership supported a portfolio of projects designed to advance the following goals:
- PNG Partnership I Goals:
- Mobilise US$250 million in new private sector investment in PNG through IFC interventions.
- US$10 million in private sector cost savings achieved through regulatory reforms.
- 30,000 people with improved economic opportunities in PNG productive sectors.
- 5,000 SMEs with improved access to financial services.
- 300,000 people experiencing improved access to basic financial services in PNG, of which 50% are women.
- 150,000 women experiencing improved access to financial services.
- 50,000 women with improved economic empowerment.
- 100,000 with improved access to infrastructure.
PNG Partnership II Goals:
Mobilise new private sector investment in PNG through IFC interventions.
- Generate private sector cost savings through regulatory reform.
- Increase the number of people reached with improved economic opportunities in PNG productive sectors.
- Increase the number of SMEs with improved access to financial services.
- Improve men and women’s access to basic financial services.
- Number of women experiencing improved access to basic financial services.
- Strengthen and promote women’s economic empowerment.
- Increase access to infrastructure.
This report presents the findings of the end of project evaluation conducted from April to June 2023, covering IFC implemented activities from March 2015 to December 2022 and building on the 2021 mid term review. Assessed against the OECD Development Assistance Committee (DAC) criteria, the Partnership was found to be strategically relevant and coherent, with 87% of projects achieving high or medium effectiveness. Despite COVID 19 related delays, the Partnership was assessed as efficiently managed with strong attention to sustainability.
Management Response
The DFAT’s response to the independent evaluation report:
- The report has addressed the Terms of Reference. It is consistent with the Evaluation Plans and Evaluation Tools documents prepared by the independent team.
- DFAT will engage with the International Finance Corporation on the key lessons identified in the report, including the need for adaptability to changing circumstances, more fully integrating gender into project design up front, and more attention being given to differentiating project strategies and the tools and resources. DFAT will also engage with other development partners and interested stakeholders to take forward the learnings from this report.