24 January 2025, Koror, Palau – Chuuk State has taken a significant step toward enhancing regional development by presenting their additional share contribution of $50,000 to the Pacific Islands Development Bank (PIDB). This presentation was made during the PIDB Board meeting held in Palau from January 23 to 28, 2025. The check was presented to Ms. Lindsay M. Timarong, the President and CEO of PIDB by Chuuk State Legislature’s Speaker Lester D. Mersai, who is also the Chairman for the PIDB Board of Governors, Vice Speaker Andrew A. May, who also represents Chuuk State on the PIDB Board of Directors and Legislative Chief of Staff, Mr. Douglas Marar.

This contribution, and the State government’s annual capital injections, highlights Chuuk’s commitment to promoting social and economic growth in the Pacific Islands. By increasing its capital share in the Pacific Islands Development Bank (PIDB), Chuuk State raises its level of support forour island people, and contributes to developing robust private sector initiatives for the region.

The PIDB plays a crucial role in providing financial resources and technical assistance to its shareholder member governments. This support helps fund important projects that promote economic development and improve the livelihoods of people in our island communities, including in the form of business and residential loans. Chuuk State’s backing demonstrates its ongoing commitment to the PIDB and its initiatives.

The PIDB Board meeting in Palau centered on collaboration and the search for innovative solutions to regional challenges. Chuuk State’s increased financial commitment demonstrates a growing willingness among local governments to participate in meaningful development programs throughout the islands.