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Torres presides over PIDB meeting
Gov. Ralph DLG Torres left Saipan over the weekend to attend the shareholders meeting of the Pacific Islands Development Bank in Majuro, Marshall Islands.
Torres was elected chairman of the PIDB in a meeting last month in Palau.
Torres returns on Friday after almost a week of meetings with other Pacific leaders.
Right now, Lt. Gov. Arnold I. Palacios is the acting governor.
Torres, whose trip is funded by PIDB, is fulfilling his duties as the PIDB chairman. Representatives of the islands of Guam, Palau, the Federated States of Micronesia—Chuuk, Kosrae, Pohnpei, and Yap—and host Marshall Islands are also attending.
“Gov. Torres, as the elected chair of [PIDB], presides over a shareholders meeting with the governments of Kosrae and the Marshall Islands on the capital,” said press secretary Kevin Bautista.
“The PIDB is an important financial institution for the Pacific region, dedicated to the viability of island businesses and the promotion of regional partnerships on economic and social development.”
PIDB is a regional development finance institution established in 1989 to help member countries speed up their development. Two members from each Pacific island nation, representing the executive and legislative branches of the government, compose the board of governors.
