World Bank opens office in Northern Pacific

The World Bank has recently established a new office in the Federated States of Micronesia island Pohnpei.
 
The World Bank has significantly increased its presence in the North Pacific in the last six years, with the number of projects tripling and funding going from US $76.9 million to $486.2 million. “The new regional hub will play a vital role in delivering the near half-billion USD in total support across Federated States of Micronesia (FSM), Marshall Islands, and Palau”, the World Bank has stated.
 
David W. Panuelo, President of the Federated States of Micronesia, affirmed the office as a tool of unity and collaboration, saying “we call on our North Pacific neighbors to treat this as their own asset, and link into the World Bank’s data, knowledge, and experience.”