Photo Caption: Left to right (back row): Anjojo Kabua (Executive Director of KADA), Elbuchel Sadang (Former Minister of Finance, Palau), Francisco M. Atalig (Retired CFO of Bank of Guam, Guam), Diego Benavente (Former Lt. Governor and Speaker, CNMI), Kosrae State Lt. Governor Arthy G. Nena, Senator David Paul (Member of the Nitijela, RMI), Robson Henry (Retired US Army Veteran, Kosrae), Rosa D.L.S. Weilbacher (Manager of Administration, PIDB). Left to right (seated front row): Kosrae State Governor Tulensa W. Palik, PIDB Chairman of the Board of Governors Speaker Kenneth Kedi (Member of the Nitijela, RMI), Christina Elnei (Director of the Pohnpei State Treasury & Administration, Pohnpei), Lindsay M. Timarong (PIDB President & CEO, Chairwoman of PIDB Board of Directors).

The Board of Directors for the Pacific Islands Development Bank held their quarterly meeting in Kosrae on April 26th, 2023. Speaker Kenneth Kedi, Member of the RMI Nitijela and Chairman of the PIDB Board of Governors was able to join the meeting of the Board of Directors. It has been a customary practice in the past to include the Chairman of the Board of Governors in meetings of the Directors to maintain close collaborative relationship and help keep the Chairman informed of and involved with the Bank’s operations and activities. With the exception of Ms. Jessica “Numie” Acker, the Yap representative on the Board of Directors, who was unable to travel to Kosrae for the meeting and whose schedule conflicted with the meeting date, all members of the Board of Directors were in attendance. Namely, Senator David Paul, Member of the RMI Nitijela and RMI representative; Mr. Anjojo Kabua, Ex-Officio Member of the PIDB Board of Directors, and Executive Director of the Kwajalein Atoll Development Authority (KADA) which is PIDB’s Associate Member Shareholder; Mr. Francisco Atalig, retired CFO of Bank of Guam, and Guam representative; Mr. Diego Benavente, Former CNMI Lt. Governor and Former Speaker of CNMI House of Representatives, and CNMI representative; Ms. Christina Elnei, Director of Treasury & Administration of Pohnpei, and Pohnpei State representative; Mr. Robson Henry, US Army Veteran and Kosrae State representative; and representing the Bank: PIDB President/CEO and Chairwoman of the Board of Directors, Ms. Lindsay M. Timarong; and Manager of Administration Ms. Rosa D.L.S. Weilbacher.

Among the key topics on the meeting agenda were the receipt of $1 million MIDB Loan Program Funds, Suspension on Chuuk State membership being lifted by the Board of Governors, as a result of a special meeting which took place via zoom on April 3rd, 2023, Yap State accepting post of Secretary on Board of Governors, Yap Day and courtesy meetings by PIDB President/CEO Ms. Lindsay M. Timarong, 17th Chuuk State Legislature Swear-In ceremony of which Ms. Timarong was in attendance. Draft Annual Report, which included the 2022 audit report was circulated for review and approval for publication. Also discussed for Board approval and adoption were 1) Amendments to Travel Policy, to incorporate changes to per diem amounts in the region as agreed during the October 2022 Board Meeting, 2 )Per diem rates for travel to specified areas outside the region and 3) New travel authorization and claim form.

The next meeting is to be held in July 2023 in Pohnpei State.

During the week spent in Kosrae State, the Board of Directors paid courtesy visit to Kosrae State Legislature where they met Speaker Semeon Phillip and Vice Speaker Salpasr Tilfas. Kosrae State leadership hosted a dinner function for the Directors on April 27, 2023. A tour of the locally owned clam and coral farm was arranged as well as a visit to the tuna loining and export processing facility.

PIDB Board and Management express warm appreciation and Kulo Mulalap! to our Kosrae State shareholder representatives, state leadership, members of the community and our Kosrae representative on the Board of Directors and his family for the warm welcome and memorable experiences.