PALAU - ADB to assist Palau to update master development plan

guampdn.com, 18 June 2007

There are widespread concerns within Palau about a significant reduction in U.S. funding under the new Compact, and the impact large fiscal adjustments would have on achieving sustainable development outcomes,” said Erquiaga. “ADB's assistance is aimed at working with the government and people of Palau to address these issues, including mapping out a path for economic growth which is sensitive to Palau’s culture and environment as well as the delivery of affordable government services including public infrastructure.”Palau comprises 340 islands on the western edge of Micronesia in the west central Pacific Ocean with a very small population.

The economy consists of tourism, retail, subsistence agriculture, and fisheries, capitalizing on its rich environmental assets and close proximity to Asia. The public sector is the largest employer and contributor to gross domestic product.

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