By: L.N. Reklai Koror, Palau — President Surangel Whipps Jr. said Palau has a significant opportunity to stabilize its economy and reduce long-term debt through access to low-interest loans from the Asian Development Bank, following his recent visit to ADB headquarters. President Surangel Whipps Jr. meets with ADB President Masato Kanda at ADB Headquarters in […]
Tag: National Development Bank of Palau
Posted inTop Stories
OEK finally approves $15M Saudi loan to expand housing loans in Palau
By: L.N. Reklai KOROR, Palau (Dec. 17, 2025) — After months of delay, the House of Delegates has approved a joint resolution allowing President Surangel S. Whipps Jr. to borrow $15 million from the Saudi Fund for Development, clearing the final legislative hurdle for new funding aimed at low-cost development loans. The measure authorizes the […]
Posted inTop Stories
Only $2.3 million out of $15m for housing released
Little over $2.3 million dollars’ worth of housing loans have been issued for 31 homes by both National Development Bank of Palau (NDBP) and Palau Housing Authority (PHA) reported Minister Baklai Temengil-Chilton, Chairman of the National Housing Commission(NHC), yesterday. Not all of the 31 homes acquired through this loan program were newly constructed homes. Six […]