April 5th, 2023 – The Marshall Islands Development Bank (MIDB) granted a soft loan of $1 Million to PIDB for creation of a loan program to provide business and housing loans to Marshall Islands citizens who reside in PIDB shareholder member jurisdictions outside of the Marshall Islands – namely Guam, the Republic of Palau, the Federated States of Micronesia, and the Commonwealth of the Mariana Islands.
As stated in a previous press release published in December 2022, “Through support and endorsement of the RMI National Government, the MIDB is giving a loan of $1 million in funds to PIDB in line with the local development bank’s [MIDB’s] mission to improve the living conditions of the RMI citizens”. On April 5th, 2023, PIDB received the funds from MIDB.\
This loan program is now ready to be rolled out. PIDB invites Marshall Islands citizens residing in Guam, CNMI, FSM and Palau to submit completed forms together with required documents for business or residential home loans. Our pre-qualification and application forms are found on our official website at: www.pacificidb.com