Papua New Guinea's Prime Minister has welcomed notification that he had been referred to a Leadership Tribunal to hear matters relating to the government's decision to take out a controversial state loan.
The PNG Prime Minister Peter O'Neill speaking at the SIDS Conference in Samoa. Photo: PNG Prime Ministers Office
The referral from the Public Prosecutor relates to three allegations over the loan of 1.1 billion US dollars obtained from the Swiss bank UBS earlier this year.
The government sought the money to buy back shares in the petroleum explorer, Oil Search.
PNG Loop reports Peter O'Neill as saying he welcomes the referral as it offers an opportunity to provide clarity on this investment by the state into the national resources sector.
Mr O'Neill says his government's actions in taking out the loan were to ensure that the state continues to have some ownership of Oil Search.
He says sources behind the allegations are somewhat dubious and driven by people with political motivation.
