Thu. Jun 20th, 2019

No More Excuses – Remengesau

$5-M soft loan to boost local food production barely touched

 By: L.N. Reklai

President Tommy Remengesau, Jr. said “there are no more excuses” regarding the lack of applicants for low interest agriculture/aquaculture loans, a government’s push to increase agriculture and aquaculture production for national food security.

According to Remengesau, the $5-million soft loan that Palau government and National Development Bank received from Taiwan to push for increased local food production has barely been touched by locals.  Of the $5 million, only about one-fifth or $1 million has been disbursed.

“We have addressed the concerns about long complicated loan applications from NDBP.  That now has been cut to one page and up to $10K do not require collateral.  We have addressed complains about EQPB’s onerous application process, and so that too has been streamlined and only the director approves application,” he added.

So far though, the total applications have only reached $1 million.  NDBP conducted meetings at each State to promote this opportunity and still response has barely reached a fifth of the total funding.

Recently, Palau has constructed a piggery butchering plant and implemented regulations to ensure that products meet health and sanitation standards but local production of pigs barely meet the facility’s daily maximum capacity.

Remengesau proposed looking at possible partnerships between local and outside farmers in order to create a more consistent production.


ICB Bank and Pangea Foundation to cooperate on a password-based financial services business

June 14, 2019 - Palau ICB Bank will launch new financial services based on the Pangea Foundation and cryptography promote business.

ICB Bank on Thursday, the cryptographic currency foundation Pangea (PAN) and block chain-based cryptography and signed business agreement to promote the financial services business.

ICB Bank uses the Pangea Foundation's password currency 'Pangea' to combine financial services. We plan to jointly promote various Pin Tech businesses.

In particular, ICB Bank is working with Pangea Foundation. ICB Bank promote issuance of visa cards and master cards based on cryptography. The company is releasing debit cards that can be settled as collateral.

If a Visa or Master Card is actually issued, payment will be made in everyday life anywhere in the world. It is becomes possible, consumers can use the Visa/Master Card on-line merchant's Bitcoin, Ethereum.

The bank, a financial institution works with the Cryptographic Fund to provide financial services that can be applied in everyday life. The roll out is expected to be the first in the block chain pin tech industry.

An official from the Pangea Foundation said, "Working with the bank, in the future, global credit card companies and we will expand services to Eurpoe, Latin America and other countries in connection with possible banks." he said.

On the other hand, Cryptography Pangea (PAN) is an ERC20-based token used for remittance and payment. Adds a centralize authentication agreement to decentralized lenders technology for faster transaction rates. Billing platform at the same time. Currently, Indonesia, Vietnam, Uzbekistan, Europe, etc. and the Cryptographic Exchange of eight countries in Southeast Asia and Latin America.

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