Where is the money? What is it doing? And what's stopping it from landing?
Papua New Guinea's investment architecture rests on three distinct capital stacks. Each is substantial. Each is real. But together they are not yet producing the alignment that the country's closing 14-month policy window requires. This is a snapshot of where the capital is — and what it will take to move it.
“PNG is short of good ideas, not capital.” — JMP Securities, BCPNG Roundtable Q1 2026
THE THREE CAPITAL STACKS
01 PUBLIC CAPITAL
Government Investment Programme
› K7,697 million — 2026 Public Investment Programme (record scale; +277% from 2018)
› K20 billion — Connect PNG flagship infrastructure programme
› K11 billion — National Education Upgrade
› MTDP IV implementation cycle: agriculture, energy, transport, health
› SOE dividend reform and IRC/Customs receipts as complementary public financing
The public capital is there.
