NASFUND READY TO BACK PNG RESOURCE PROJECTS

CAPTION: Nasfund CEO Rajeev Sharma speaking at PNG Resource Week.

BY RAYLEEN WANJIMAN

THE National Superanuation Fund- Nasfund says it is ready to invest more of its members’ savings into Papua New Guinea’s major resource and energy projects once those projects have passed their high risk stage.

Speaking during the third day of PNG Resources Week today Chief Executive Officer Rajeev Sharma said as a superannuation fund, Nasfund’s first responsibility is to protect members’ retirement savings while delivering strong annual returns.

Mr Sharma said one option is for banks to finance projects during the early high-risk phase, with superannuation funds like Nasfund investing later through equity, once projects are established and generating cash flow.

He also called for greater opportunities for Papua New Guinean superannuation funds to invest in local resource projects, saying innovative financing models could allow more domestic capital to support the country’s growing resources sector.

He said this approach would allow Nasfund to support national development while safeguarding members’ retirement funds.