Prime Minister James Marape said the funding will go to all sectors of the Covid-19 operations, but especially frontliners especially medical workers, police, and defence personnel.
Some of the funding is to be used to help PNG citizens who are stranded overseas to return to the country.
Mr Marape also said that 23.2 tonnes of medical gear, including personal protective equipment, were being flown in from China and were due to soon arrive in Port Moresby.
As well as China, Mr Marape thanks Australia and other partners for helping to resource PNG's response to the pandemic.
"I received a call from a gentlemen by the name of Robert O'Brien, who is President Donald Trump's chief adviser as far as international security is concerned, that they are sending us 40 specific ventilators to be installed in the hospitals throughout the country.
"We are also getting help from renowned Alibaba man called Jack Ma (tech magnate) through UNICEF in the Pacific.