News

NDBP Procures New Vehicle

January 14, 2011 NDBP has received approval from its Board of Directors to procure a new vehicle for the Bank based on its latest RFP issuance. This vehicle will be a new four wheel drive truck that will be used to access remote project sites, carry more supplies to community visits, and transport foreclosed chattel property from failed loans.

The winning bidder for this purchase was Surangel & Sons Company for a new Nissan Frontier. Arrival should be by the end of January. The truck will replace the Bank’s Nissan X-Trail which will soon be auctioned to the Public.

NDBP Management And Staff Receive Certification

[January 12, 2011] Four (4) National Development Bank of Palau staff received professional certifications from ADFIAP’s Asia Pacific Institute of Development Finance (IDF) in Manila at the end of 2010. Bank President Udui, and Commercial Loan Officer Fletcher were granted Affiliate Certifications and Special Asset Manager Francisco and Commercial Loan Analyst were granted Associate Certifications. Other Pacific Islands represented included the Cook Islands, FSM, and Samoa.

Certifications are for the programs of Core Development Banking and Development Bank Management. These programs are part of the ADFIAP Career Credentialing Program intended to accredit and recognize professional competence in development Banking. ADFIAP is an Asian Pacific group of development financiers.

NDBP Finalizes 5-Year Strategic Plan

[November 11, 2010] The National Development Bank of Palau has finalized its new 5-year Strategic Plan. The plan approved by the Board of Directors calls for an aggressive growth strategy to increase the Bank’s size from the present $30 million in Total Assets to $100 million in Total Assets at the end of 10-years.

The plan is designed in three year intervals with a 10-year horizon. The goals that have been adopted are grouped according to financial, economic, and governance relevance. A key strategy is to adopt a Key Performance Indicator approach to ensure NDBP activities achieve the Bank’s legislated mandate.

A copy of the plan is included on the Bank’s website for public access. Direct all questions or comments to the President of the Bank; Mr. Kaleb Udui Jr.

NDBP Installs Solar Panels and Conducts Training

[October 7, 2010] The National Development Bank has installed forty solar panels on the roof of the bank to demonstrate their commitment to Renewable Energy Technology. The solar power installation will also serve as a “demonstration site” for the general community.

The installation was made by Waterfront Villa, one of twenty two persons who participated in installation training a week earlier. 10 panels were installed on the roof of the SBDC facility in front of the Bank as part of a training program on how to install this equipment. The training was conducted by NDBP consultant Dr. Herbert Wade.

The following persons and firms attended the NDBP’s Installation Training:

Saro Sakurai of PPUC, D.Sakuma of Surangel and Sons, Arnold Finnegan of Waterfront Villa, Ferris Baulechong of Waterfront Villa, Ron Ngiratrank of PPUC, Shewin Wasai PPUC, Kenneth Mereb of Akitaya Corp., Frank Ohlinger of KKA Corp H. Ngirailemater of PPUC, Gany Rdialul of PPUC, R.TAkawo of Mason’s Hardware, Jeremy Alonz of Budget/PalauWind and Solar, Chris Carlos of Palau Wind and Solar, T. Glenn of TAPS, Clement Gbewonyo of WCTC, Jose Magno of WCTC, Ruby Ayson of Galaxy Builders, Angelito Miguel of Socio Micronesia, Rubie Dalatre of Galaxy Builders,C. Bing Lang of Socio Micronesia, Karla West, NDBP.

Solar Energy Equipment Training Concludes

[October 7, 2010] Training for the installation of solar energy equipment as part of the NDBP’s Energy Loan Program took place in Palau during the dates of September 21 to September 29 at the PCC CE Training Center. Training was conducted by Dr. Herbert Wade, renowned energy expert in the Pacific area.

Twenty-two persons participated each day and were awarded certificates of attendance at the end of the program by Ms. Karla West, Program Manager for the Energy Loan Program of the bank. The training program coinsisted of 10 hours of classroom instruction and the remainder of the time (20 hours) spent in actual installation of solar panels on the Small Business Development Center next to the headquarters of the National Development Bank in Ngetkib, Airai.

Representatives from Palau Public Utility Commission, private contractors and other interested persons attended this training program. A total of twenty-two individuals received Certificates of Attendance.

NDBP Extends Lottery Deadline

[October 7, 2010] Kaleb Udui Jr., President of the National Development Bank of Palau announced today that the bank would be extending the lottery application deadline for the Energy Loan Program for an additional two weeks. President Udui stated that the bank will be accepting applications to enter the lottery until October 22, 2010.

The Development Bank’s Energy Loan Program provides subsidies for borrowers desiring to place solar panels at their residences. Lottery winners receive a refund of their application fee and receive 3 months interest free payments on their loan.

Interested parties should contact Ms. Karla West, Program Manager, at 587- 2577 or visit the bank in Ngetkib, Airai for more details on the application and the loan program.

NDBP Signs Mou With Public Utilities Corporation

[August 16, 2010]The Palau Public Utilities Corporation (PPUC) and the National Development Bank of Palau (NDBP) have signed a Memorandum of Understanding (MOU) for the installation of solar photovoltaic (PV) systems on both residential and commercial facilities as part of a subsidized loan program.

This program is part of the SEDREA project funded by UNDP/GEF. The NDBP is establishing the Energy loan program (ELP) to provide affordable capital for renewable energy projects.

The MOU signed by the Chairmen of both Boards, their Managers, and attorney. NDBP Chairman Ringsang Rechirei and PPUC General Manager Kenneth Uyehara to the right are shown signing the MOU.

Under the NDBP’s loan program, funding will be provided for as much as 20 years and will cover the purchase, installation, initial 5 year maintenance and insurance for the solar photovoltaic systems. In addition, there will be an active training program to support local technical staff as they gain experience in installation and maintenance of these systems.

The MOU and NDBP’s loan program are in line with a net metering bill currently under consideration by the National Congress. The MOU is designed to set out the interim agreement to allow effective net metering activities to enable NDBP to launch the pilot phase of the ELP. A net metering approach means that any PV electricity can be supplied to the PPUC grid during the day time when residential usage is low.

In a net metering concept, PPUC will adjust the monthly billing to reflect a credit for the kilowatt per hour (kWh) of solar power dispatched to the grid. Any excess power provided to PPUC however will not be purchased by the Corporation but instead credited forward to the customers next monthly billing. Initially, this program will only be available to customers using conventional meters and not pre-paid meters.

For more information about this exciting new opportunity you can contact the National Development Bank of Palau at 587-2578 or the Palau Public Utilities Corporation’s Public Information Office at 488-3870 Ext 244.

NDBP Orders Energy Equipment For Training

[August 24, 2010] The National Development Bank of Palau has placed an order for five (5) on-grid module units for its Energy Loan Program. This is part of a larger order for equipment planned as part of its recently closed Request for Quotation.

Each module is comprised of photovoltaic panels, inverters, webbox (for monitoring), and mounting system. The modules are intended to be scalable and are designed to meet typical household energy demands in Palau. Training will be provided by the Bank’s consultants made possible by funding by the Republic’s SEDREA Grant administered by the Palau Energy Office.

This training will be conducted at the Bank in Airai. These systems will be “on-grid systems” which means they will be connected directly to the building’s power supply and batteries for storage of energy will not be included with these systems.

The Bank launched its Energy Loan Program this month and a notice of lottery will be issued to the Public soon. The lottery will be for both on-grid and off-grid systems. Businesses and homeowners will be eligible to apply. The Bank’s Energy Loan program will provide subsidies and low interest rate loans to customers who want to install solar systems and reduce their energy consumption from PPUC. Call the Bank’s Energy Hot Line at 587-2577 for more information.

NDBP Hires New Commercial Loan Analyst

[August 16, 2010] The National Development Bank of Palau welcomes its newest staff and a new Commercial Loan Analyst to assist in processing customer loan applications. Mr. Ives Morei began working for the Bank this month. He was previously employed at the Bank of Hawaii’s Koror Branch.

The Bank now employs two Commercial Loan Analysts. Mr. Prescott Yuri, the Bank’s other Commercial Loan Analyst leaves at the end of this month to pursue his Masters in Business Administration under a Scholarship from the Republic of China, Taiwan.

NDBP Signs Mou With BIDV

[July 21, 2010] National Development Bank of Palau’s President Kaleb Udui Jr. (seated left) signed a Memorandum of Understanding with the Bank for Investment and Development of Vietnam at the Palasia Hotel on July 8, 2010. Observing the signing were members of the Vietnam delegation to Palau and the Republic of Palau Minister of State, Dr. Victor Yano (standing behind President Udui). Both Banks are members of the Association of Development Finance Institutions in Asia and the Pacific (ADFIAP).

Palau and Vietnam, who have established diplomatic relations, hope to work together to support trade and investment between the two countries. The Memorandum signed by the two Banks establishes the principles of cooperation between the Banks and specifies that the details of the relationship will be formulated at a later date.

NDBP Launches New Energy Loan (ELP Program)

[July 15, 2010]

The National Development Bank of Palau (NDBP) is launching a special loan program this year which includes subsidies to install Energy Systems for households and businesses to "future proof" their energy costs. By providing loans to install solar photovoltaics (PV) as a source of electricity, the NDBP-ELP loan program will offer homeowners and businesses the opportunity to reduce their dependency on power from PPUC and also allow homeowners living beyond PPUC's power lines, the option of having independent source of energy.

For those homeowners or business far from power lines, the subsidized loan will result in electricity at prices close to rates charged by PPUC (without any connection cost).

A pilot program will be launched via a lottery planned by the Bank, subject to PPUC's participation, to provide an opportunity for the first group of homeowners and businesses to begin saving on their energy costs NOW. The systems that the PPUC will allow to connect to the grid can expect a reduction in their electricity bill that can be used to pay for the solar system loan - securing electricity at a fixed monthly cost into the future. "Future- Proof" means people's power bills are less affected by rising PPUC tariffs. The program will work best for those customers who consume at least 350 kWh power per month (power bills of around $100 per month). The Loan Program will also support energy efficiency and solar water heating installations. Apply and qualify for the NDBP-ELP Loan and enter to win a lottery and enjoy additional rewards. Lottery winners will receive full refund for loan fees and 0% interest for the first three months. The Lottery application period will be announced in the near future.

For further information on the NDBP's Energy Loan Program, please contact Ms. Karla T. West by phone at 587-NDBP (6327). Look out for future announcement from the bank.