Good comments.
I am not so worried about Nambwan selling down, diversification makes sense from their perspective.
Problem is ADB can't achieve all the things I mentioned as an honest broker now, they are conflicted. Also won't KSL have conflicts of interest now for any infrastructure work ADB is funding in the country? There's plenty of them, $3b over 272 projects!
Another thought occurred to me, ADB could view KSL as a role model to replicate in similar economies in the region? By completing two years of due diligence and an ongoing investment they will have a very good understanding of Kina's business model.
Seems strange for a development bank to pick winners, as it could lead to favouritism and cronyism (which are already major problems in PNG). Imagine if the world bank did the same? Maybe the people at ADB just got bored or frustrated with the results they were getting in PNG.
Good comments.I am not so worried about Nambwan selling down,...
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