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Economic and Social Development – 2004

Provincial Treasurer Joel Banam in Buka handed down Bougainville’s ambitious 82m kina 2005 budget on December 21, 2004. According to Provincial Treasurer Joel Banam, “total funds estimated available to Bougainville from all sources in 2005 is 82,554,100 kina.” He said the total national government grant was 40,364,100 kina, donor contributions totaled 21,690,000 kina, and internal revenue from Bougainville was 1,200,000 kina, bringing the 2005 budget to 63,254,100 kina. Other sources of funding included a 4m kina balance originally paid as an establishment grant in 2003.¹

1. “Papua New Guinea: Bougainville hands down 2005 budget,” BBC Summary of World Broadcasts, December 22, 2004.