Palau is considered one of the “most successful economies” among the Small Pacific Island countries, according to a new Asian Development Bank (ADB) third edition of its annual publication, Together We Deliver: 50 Stories of Partnerships in Asia and the Pacific.
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According to a statement from ADB, the new publication celebrates the role of partnerships and showcasing specific ADB support “in aiding the region’s rise from poverty to a new era of prosperity.”
Palau and ADB since 2003 are partners in improving public sector effectiveness, private sector development, delivery of safe water and sanitation services and internet connectivity.
ADB is supporting big infrastructure projects in Palau such as the $25 million North Pacific Regional Connectivity Investment Project, which will provide higher-quality broadband internet connectivity at a much lower cost to Palau. The connectivity is expected to be operational by January 2018.
Palau is also undergoing improvements in its water system such as the $28.8 million Koror–Airai Sanitation Project, approved in 2014, which will address outdated sanitation infrastructure by rehabilitating the Koror sewer system and developing a new system in Airai State.
ADB also funded a Water Sector Improvement Program, which responded to concerns about the unsustainable water demand of households and a rising number of tourists
In the publication, Palau thanked ADB for its assistance and partnership.
Palau greatly values its strong relationship with ADB,” said Elbuchel Sadang, minister of finance of Palau.
“Through the years, ADB has found a way to be responsive to our needs and become an effective and meaningful partner in our development.”
ADB said in the coming years, it will continue to support higher-value tourism and more inclusive growth in Palau by enhancing public sector effectiveness, facilitating private sector development, delivering safe water and sanitation services, and improving connectivity.
The ADB said the publication of Together We Deliver is part of its activities to mark its 50th anniversary and is a sister publication of its recently published history book, Banking on the Future of Asia and the Pacific: 50 Years of the Asian Development Bank. ADB President Takehiko Nakao said: “The collection of stories shows concrete examples of how ADB has worked with its government, civil society, private sector, and other partners to help the region tackle sweeping challenges including extreme poverty, huge infrastructure gaps, inadequate health and education services, financial crises, and disasters.”
“These stories highlight the importance of good partnerships in meeting the complex development challenges of our dynamic region and acknowledge the tremendous progress made in all our developing member countries over the last five decades,” said Indu Bhushan, Director General of ADB’s Strategy, Policy and Review Department. “Over the past 50 years, ADB has evolved and improved to respond to the changing needs and circumstances of our members, and we will continue to do so over the next 50.” (B. Carreon) [/restrict]