$5 Million ADB Loan to Support Improvement of Public Utilities Corporation Performance in Palau
MANILA, PHILIPPINES (8 December 2020) — The Asian Development Bank (ADB) has approved a $5 million policy-based loan to fund a program helping the Government of Palau reform the Palau Public Utilities Corporation (PPUC), the state-owned electricity and water utility company.
The program aims to strengthen corporate governance, financial management, and sustainability of PPUC. It includes electricity tariff reforms, establishing reporting and disclosure norms based on industry standards, and strengthening PPUC’s corporate governance and transparency.
“ADB will leverage off its long-term engagement in Palau’s water supply, sanitation, and energy sectors,” said ADB Pacific Department’s Energy Division Director Olly Norojono. “ADB is a major reform partner and has built a strong relationship with the Government of Palau in supporting PPUC’s corporate reforms.”
The program also promotes gender equality. The PPUC will take affirmative measures to promote and apply the principles of gender equality in the workplace, as well as in customer relations. The PPUC Board has approved flexible work hours and introduced parental leave and safeguards to protect workers against workplace discrimination and harassment.
The program supports ADB’s Strategy 2030 of addressing remaining poverty and reducing inequalities, accelerating progress in gender equality, and strengthening governance and institutional capacity.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.