Frequent natural disasters limited transportation inadequate access to safe drinking water tribal conflicts poor healthcare and education are some of the challenges that face the people of png. The next day the dollar ceased to be legal tender.
Get live exchange rates historical rates charts for pgk to aud with xe s free currency calculator.
How much money does australia give to papua new guinea. Australia s aid program to png comprises about one fifth of the total aid budget. The project brings up its overall commitment in the region since 2011 to a total of 5 88 billion compared to australia s commitment of 6 72 billion. Convert 1 papua new guinean kina to australian dollar.
Australia values its longstanding ties with papua new guinea png. Australia s aid program is working step by step. Compare international money transfer services and save on exchange rates and fees.
Data for 2017 and 2018 are not complete but preliminary figures show china committed to a huge 3 5 billion project in 2017 in papua new guinea for a high priority economic road project. The kina iso 4217 currency code. In 2002 03 australian aid to png amounted to around a314 million.
It is our nearest neighbour and close regional partner we share a border economic interests and common legal frameworks and over time our relationship has matured and in 2020 we have signed a comprehensive strategic and economic partnership. How to send money to papua new guinea safely and affordably. Pgk the currency symbol.
The 440 million loan will be used at the marape government s discretion something australia has not permitted in nearly two decades given png s history of chronic corruption. K is the currency of papua new guinea it is divided into 100 toea the kina was introduced on 19 may 1975 and circulated along with the australian dollar until 31 december 1975. Australia already provides more than 500 million a year in aid to png which funds specific projects under close monitoring.
Papua new guinea png is australia s closest neighbour. However a large gulf exists in the economic development of the two countries.