Pacific

PNG PM says Ombudsman report into UBS loan will be tabled

16:16 pm on 12 June 2019

Papua New Guinea's new prime minister says an Ombudsman commission report into a controversial state loan will be tabled in parliament.

James Marape the member for Tari Pori is the new prime minister of Papua New Guinea. May 2019 Photo: Post Courier Newspaper

The report, which implicates James Marape and PNG's previous prime minister Peter O'Neill among other senior officials, was leaked in late April.

The ombudsman has referred the officials to a Leadership Tribunal over a $US1.2 billion loan the O'Neill government took on from Swiss-based investment bank UBS in 2014.

The Ombudsman found that Mr O'Neill misled cabinet into approving the loan, among other irregularities.

It also found that Mr Marape, then Finance Minister, signed off on the loan despite knowledge of its irregularities.

The Post Courier reported Mr Marape saying the report will be tabled in parliament at the first instance, and some key institutions of state will be looked at.

He said he is subject to the law like everyone else.