Asian Development Bank (ADB) President Masato Kanda recently met with Palau President Surangel S. Whipps Jr. at the bank’s headquarters in Manila, marking the first visit by a head of state from Palau. This historical meeting underlines ADB’s commitment to assisting small island developing states (SIDS), a strategic priority for the organization.
Kanda praised Palau as a vital partner and highlighted the country’s exemplary commitment to reform. He stated that this landmark visit illustrates ADB’s readiness to support Palau’s ambitions with robust and sustained assistance. “We are committed to working closely with the government to deliver on its national priorities,” he affirmed.
Whipps’s visit aligns with ADB’s growth of operations in the North Pacific, an area that encompasses the Marshall Islands, the Federated States of Micronesia, and Palau. The ADB is enhancing its North Pacific Team within the Pacific Department and is contemplating increasing its presence in the region to address the distinct needs of these countries effectively.
Kanda commended Palau’s recent commendable macroeconomic performance, celebrating the government’s successful tax reforms and efforts to manage public debt. He expressed enthusiasm for the administration’s initiatives concerning pension and social security reforms and confirmed ADB’s readiness to assist in these endeavors.
For the period from 2026 to 2028, ADB has allocated approximately $94 million in concessional loan financing for Palau, consistent with the 2023-2026 Palau Development Plan and the 2021-2030 National Infrastructure Investment Plan. Key focus areas include energy transition, public sector reforms, public financial management, human capital development, housing, and the strengthening of public utilities.
ADB stands as a leading multilateral development bank dedicated to fostering inclusive, resilient, and sustainable growth throughout Asia and the Pacific. The organization collaborates with its members and partners to tackle complex challenges, employing innovative financial tools and strategic partnerships to enhance lives, develop quality infrastructure, and protect the environment. Established in 1966, ADB now counts 69 members, with 50 hailing from the region.
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