A $600 million Australian government package helped launch the PNG Chiefs, with $290 million allocated to support the club over 10 years.
A further $60 million is for NRL licence fees, while $250 million funds a Pacific Rugby League Partnership involving Papua New Guinea, Tonga, Samoa and Fiji.
The club presented its logo and jersey in Port Moresby on Wednesday, as Prime Minister James Marape defended the public spending.
"To Australian taxpayers I want to say one thing, your contribution is not in vain," Marape said.
"Your investment will be returned in many many ways."
He said the two nations were "marked by geography" and "marked by history," adding: "what we are doing today is securing the future for the children."
The government funding is intended to support elite pathways to the NRL and NRLW, school programs focused on grassroots participation and girls, healthier lifestyles and improved school attendance.
The branding remains disputed because Waikato-based Super Rugby club the Chiefs already uses the name.
New Zealand Rugby's application for an interim injunction was rejected by the New Zealand High Court, which found the restriction could damage the PNG club's efforts to recruit players before its planned 2028 NRL entry.
A final injunction remains before the court.
Created by Papua New Guinean graphic artists, the logo depicts a chief wearing a five-feather headpiece decorated with kina shells, with a cassowary bone through his nose.
The imagery represents national pride, courage, power and unity, while the jersey features cultural artwork by renowned local artist TABU.
"Today marks one of the most significant milestones in the journey of the PNG Chiefs," chief executive Lorna McPherson said.
She said the logo and jersey gave players, partners and fans a complete identity of their own.
Signings Jarome Luai and Brian To'o arrived in Port Moresby with Samoa ahead of Saturday's World Cup match against the PNG Kumuls.
Luai said he watched the unveiling with To'o on the plane and called it "amazing," praising its cultural representation and colours.
The club has also signed Joey Manu, Alex Johnston, Zac Lomax and Connor Watson for 2028, and is pursuing Hudson Young and Cooper Bai.