KOROR (Palau Horizon) – Sen. Hokkons Baules requested President Johnson Toribiong to create a Task Force to review the operations and management of the National Development Bank.
The task force, Baules said in his letter to the president will be to ensure that NDBP’s operations are transparent and “its decisions, particularly with loans are fair and just.”
Sen. Baules said that numerous Palauan citizens are having difficulty when working with NDBP.
He said information coming to him said that NDBP provides customers with little information regarding management practices or the process by which it approves loans for local citizens.
“As a result, loan seeking Palauans who are denied by the NDBP must simpy accept the bank’s denial without a clear explanation,” Baules said.
Baules said the Task Force should be similar to the one created by the President’s Office recently which investigated the Palau Public Utilities Corporation.
