Part XII
Government Decision
Requested
Decision Requested Now
Authorise Stage 1
FRC respectfully requests that the Government of Papua New Guinea authorise Stage 1, appoint FRC as strategic transaction architect and sequencing advisor to the Ministry of Finance and Treasury, and authorise the data access required to complete the financial, liability management, DFI credit enhancement, KPI, governance, and market-readiness analysis.
This decision is time-sensitive because the 2028 refinancing window is already within the planning horizon.
Stage 1 Deliverables
What the Government Receives
Recommended executable pathway and fallback options
NPV, cash-flow, FX reserve, and execution-risk analysis
Government-owned reference term sheet
Customary landowner-aligned KPI and benefit architecture
Investor access strategy for this and future transactions
Cabinet-ready decision package for Stage 2
The Core Proposition
The Stage 1 mandate protects a USD 500 million refinancing decision.
It preserves sovereign control, tests every credible pathway, and builds a bridge to a global investor base that can support this transaction and future sovereign, climate, and project-finance opportunities.
Mandate
Proposed Mandate Language
"The Government of Papua New Guinea hereby appoints Frontier Resilience Capital as strategic transaction architect and sequencing advisor for the design and preparation of a Climate Conservation Credit Swap and Sovereign Resilience Financing Program. The purpose of the mandate is to support the Government in evaluating and preparing the strongest executable sovereign-owned climate conservation financing or liability management architecture for the USD 500 million sovereign bond maturing in September 2028."
Contact
Frontier Resilience Capital
For enquiries regarding this mandate proposal, please contact the FRC sovereign advisory team.
This document is confidential and has been prepared solely for the Government of Papua New Guinea. It is not intended for public distribution, does not constitute an offer or solicitation, and should not be relied upon for investment decisions. All financial figures are preliminary and indicative. April 2026.