KOROR, Palau — Asian Development Bank Vice President Bruce Davis together with ElbuchelSadang, finance minister for Palau and ADB governor, opened a new ADB Development Coordination Office for Palau during the 45th Pacific Islands Forum on Aug. 1.
“The new office will boost ADB’s responsiveness to the development needs of Palau,” Davis said in a release.
ADB has been working with Palau in the areas of safe water and sanitation, private sector development, improving public sector effectiveness and climate change mitigation. ADB has provided a range of development assistance to Palau, including loans and technical assistance. Since joining ADB in 2003, ADB has approved two loan projects amounting to $44.8 million, and four technical assistance projects of $2.9 million.
The opening took place during the 45th Pacific Island Forum Leaders Meeting to which Davis led an ADB delegation. ADB attended the meeting in Koror as an observer.
ADB and the World Bank are considering a project that involves the construction of a submarine cable system between Palau and Guam with a spur to the Federated States of Micronesia. The proposed cable project will aim to reduce the cost of and increase access to broadband and mobile communications to support social and economic development.
The new Palau office joins the ADB Development Coordination Offices in Cook Islands, Kiribati, Marshall Islands, Samoa, Solomon Islands, Tonga, and Vanuatu; and ADB country offices in Sydney, Fiji, Papua New Guinea, and Timor-Leste.