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Temporary Bank Closure

March 18th, 2020|News and Events|

Christopher A. Cruz Joins PIDB as President and CEO City of Hagatna, Island of Guam

Pacific Islands Development Bank (PIDB) is proud to announce and welcome Christopher A. Cruz as the bank’s new president and chief executive officer. In that capacity, Mr. Cruz will be responsible for the overall operations of the bank. Specific duties and responsibilities include executing goals and objectives under the strategic plan with the approval of […]

December 23rd, 2019|News and Events|

PIDB Board of Directors Meet, Review 2018 Results

Tofol, Kosrae – The Board of Directors of the Pacific Islands Development Bank (PIDB) held its quarterly meeting in Kosrae on January 23, 2019.  Board Chairman and President/CEO, Aren Palik, called the meeting  to order followed by a welcoming remark given by the newly elected Governor of Kosrae State, the Honorable Carson Sigrah.  He was […]

January 24th, 2019|News and Events|

Marshall Islands Increases Shares in PIDB

The Republic of the Marshall Islands (RMI) recently infused an additional $992,000 into Pacific Islands Development Bank (PIDB), increasing its membership equity capital to $1.9 million, the largest among the bank’s shareholders. Marshall Islands became a member of the bank in 2011 with its initial capital infusion of $1 million. “Since becoming a shareholder of […]

April 28th, 2017|News and Events|

Yap State and PIDB Execute MOA to Spur Private Sector Growth

PIDB Corporate Office, Guam. On January 7, 2017, Yap State Government and Pacific Islands Development Bank (PIDB) executed a Memorandum of Agreement establishing the procedures and guidelines for the implementation of a loan program established under Yap State Public Law 9-35. The Program provides $3 million to be managed and administered by PIDB, providing loans […]

February 14th, 2017|News and Events|

USDA Seeks Applications to Promote Job Creation and Boost the Rural Economy in the Western Pacific

HILO, HI, April 24, 2013 –

The United States Department of Agriculture (USDA) remains focused on carrying out its mission, despite a time of significant budget uncertainty. Today’s announcement is one part of the Department’s efforts to strengthen the rural economy.

USDA Rural Development State Director Chris J. Kanazawa announced today that applications are being accepted from […]

June 9th, 2015|News and Events|

Bank Board Meets in Pohnpei

The Board of Directors of the Pacific Islands Development Bank met in Pohnpei on December 12 to 15, 2007. Attending the meeting were Elbuchel Sadang representing the Republic of Palau, Justo Quitugua representing CNMI, Gibson Siba representing the FSM State of Kosrae, Joe Giliko representing the FSM State of Yap, Jack Yakana representing the FSM […]

May 29th, 2015|News and Events|

Bank Board of Governors Holds Annual Meeting

The Board of Governors of the Pacific Islands Development Bank convened its annual meeting at the Palau Royal Resort in Palau on April 28, 2008.

Among the key agenda items in the meeting were the reviews of the Bank´s 2007 Annual Report including its 2007 audited financial statements and the Bank´s 2008 Budget and Goals. Bank […]

May 29th, 2015|News and Events|

USDA Rural Development Awards $750,000 in Economic Development

Hagatna, Guam – On September 8, 2008, USDA Rural Development State Director Lorraine Shin and Pacific Islands Development Bank President Aren Palik signed the documents for a $750,000 loan under the USDA Rural Development’s Intermediary Relending Program (IRP). As the intermediary bank, PIDB will use the proceeds of the loan to finance business facilities and […]

May 29th, 2015|News and Events|

PIDB Board Forms Task Force, Elects New Officers

The Pacific Islands Development Bank (PIDB) Board of Governors held a special meeting in Palau on Friday, July 30, primarily to review and address the bank’s capacity and resource base, vital to its growth and expansion strategy. While the bank has consistently grown in total assets and loan balances in the past five years, increasing […]

May 29th, 2015|News and Events|