Treasurer Ian Ling-Stuckey, after meeting with the head of the Millennium Challenge Corporation (MCC), has stated that MCC can provide the country with hundreds of millions in grants, but pending a stringent pre-qualification process. Ling Stuckey stated that he had the pleasure of meeting the head of the MCC, Alison Allbright, during his recent visit to Washington, this led to another meeting, with members of her team including Managing Director Daniel Bĺarnes, on the details of accessing the program. “This is all part of the innovative Marape-Rosso Targeted Grants Strategy (TGS), where we are seeking to move from loans to more and more grants to support PNG’s own economic reform program.” He said the MCC pre-qualification process is a demanding one and at the moment the country is a long way from qualifying. The treasurer advised that it would take several years to improve on enough indicators to get access to the potentially large grants available. “If we do qualify for a “compact” program, there will be a PNG committee formed to administer the grants under MCC guidelines. Projects will be based on an assessment of how best to support PNG’s economic growth.” He added that any funded projects must go through a rigorous cost-benefit analysis, where competitive international procurement will be required. A process he believes to be elements of good governance. “While it may be several years away, it is important to fully understand the options and begin the journey now. Development is a long and hard process for better jobs and incomes.” Ling Stuckey added that partners such as MCC could assist, and the country also wants to move more towards grants and away from loans. “This is especially the case as we start repaying our debt from 2027 when our budget is planned to return to a budget surplus.”