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Deputy Prime Minister and Treasurer Charles Abel says the Papua New Guinea Sovereign Wealth Fund (SWF) board is expected to be set up by the middle of this year.
“The legislations for the establishment of a SWF are in place, we just need to kick-start the operations of the fund with the establishment of a board. That’s the process we’re going through now for Papua New Guineans and our country,” he told The National in a special interview.
He also revealed that the target was for the SWF to grow beyond US$1 billion (K3.38 billion) .
SOURCE: THE NATUIONAL/PACNEWS
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