Dobel

pending

 A PGK-USD linked 12 year secured loan of up to PGK70m (~US$19m) to finance the development of a greenfield retail property that will offer high quality, modern retail space for local producers in Mount Hagen, the economic center of the Highlands region of Papua New Guinea (PNG), an IDA- FCS country. The “Project”, or the “Shopping mall” will be IFC’s second proposed local currency linked financing in PNG and will require blended finance support. The Project will be developed by Wonye No.2 Limited, a partnership between Steamships Trading Limited (the “Company”), a PNG subsidiary of the Swire Group (a UK-HK conglomerate) with over 100 years of experience operating in PNG, and Tininga, a long-established PNG agri-producer and retailer, and a former IFC advisory client, based in the Highlands Region. The construction is expected to last 36 months in total. After completion, the Dobel shopping mall will be managed by Pacific Palm Properties (PPP), a company under Steamships.