False
New bilateral loans between 1 July 2022 – 30 September 2024
| Date of loan agreement | Lender | Beneficiary | Use of proceeds | Loan amount | Loan currency | Interest rate | Maturity (years) | Grace period (months) | Collateral |
|---|---|---|---|---|---|---|---|---|---|
| 18/10/2022 | AIFFP* | Republic of Fiji | Transport infrastructure | 40,000,000 | USD | SOFR† + margin | 10‑15 | 36 | N/A |
| 15/12/2022 | AIFFP* | Democratic Republic of Timor‑Leste | Transport infrastructure | 40,000,000 | USD | SOFR† + margin | 20‑25 | 60 | N/A |
| 15/12/2022 | Australian Government | Independent State of Papua New Guinea | Budget Support | 750,000,000 | AUD | Australian Government cost of borrowing‡ | 20‑25 | 0 | N/A |
| 8/12/2023 | Australian Government | Independent State of Papua New Guinea | Budget Support | 600,000,000 | AUD | Australian Government cost of borrowing‡ | 20 | 0 | N/A |
* Australian Infrastructure Financing Facility for the Pacific
† Secured Overnight Financing Rate
‡ At the time of drawdown as determined by the daily yield on Australian Government bonds with a 10 year maturity