August 7, 2012:
The Board of Directors of the Pacific Islands Development Bank (PIDB) held its second regular meeting of the year in Tinian, CNMI, on August 7, 2012. Bank President and Board Chairman, Aren Palik, called the meeting to order at the Fleming Hotel with host Director, Diego Benavente, welcoming everyone to Tinian. Main agenda items of the meeting include (1) review of the bank’s 2nd quarter performance, (2) review of the allowance for loans and lease losses, (3) review and action on loan requests above management’s lending authority, (4) review and update on Capitalization/Funding Task Force activities, (5) update on relocation of the bank’s corporate office in Guam, (6) review on commencement of lending operation in the Marshall Islands, and (7) review of scholarship awards for 2012 school year.
Before the Board proceeded to its main business, each member presented a summary country/island report with challenges and opportunities. The board also reviewed responses to a request for proposal for its Investment Consultant service. The board had the opportunity to meet with the Mayor of Tinian and other leaders CNMI including CNMI Delegate to US Congress, Gregorio “Kilili” Sablan who happened to be in Tinian at the same time.
From left: Aren Palik, President and Board Chairman; Diego Benavente (CNMI); Thomas Pablo (Pohnpei); Lou Leon Guerrero (Guam); Ilai Abraham (Kosrae); Secilil Eldebechel (Palau); John Masiwemai (Yap). RMI Director Alfred Aflred Jr. was absent.