3 Feb 2014

Bougainville and Port Moresby sort funding differences

8:18 am on 3 February 2014

The president of Papua New Guinea's Bougainville says funding disputes with the national government were resolved during last week's historic prime ministerial visit.

John Momis says Peter O'Neill's visit marked a new beginning for the autonomous province.

He says a key outcome is the recognition that a collaborative approach is needed as the province prepares for its eventual referendum on independence.

Mr Momis says the Autonomous Bougainville Government has calculated there are arrears of 70 million US dollars in the development and restoration fund attached to the Peace Agreement.

He says Mr O'Neill accepts this and has promised to remit the money and other promised funding - though with conditions.

"The other five hundred million which the national government committed to Bougainville over the next five years, only 100 million has been released,, and the PM made a commitment also that the 200 million (kina) which is in a trust account will have to be released, pending approval of projects, impact projects."

The president of Bougainville John Momis.