Gov. Ralph DLG Torres is off-island for official business representing the CNMI in a regional development finance institution with a member of the Legislature.
Torres, a member of the Pacific Islands Development Bank’s board of governors, is attending the bank’s annual meeting with the CNMI legislative representative Rep. Joseph Deleon Guerrero (R-Saipan) at Pohnpei.
The board of governors, who meet annually in spring to review bank operations and major policy decisions, are responsible for overseeing PIDB bank activities and administration.
According to CNMI press secretary Kevin Bautista, Torres left in the weekend and would be back on Thursday.
The PIDB was created in 1989 by the Association of Pacific Islands Legislature, or APIL. Members of APIL include Guam, the CNMI, Republic of Palau, and the FSM States of Chuuk, Kosrae, Pohnpei, Yap, and the Republic of the Marshall Islands.
PIDB has a mission to “…contribute to the economic and social development of its members,” according to its website. According to Bautista, the bank also seeks “social development of the member states and nations, individually and collectively, and to promote economic cooperation among them.”
The board of governors, who represent the owners or shareholders of the bank, shoulders all governance of the PIDB. Each member appoints two representatives called governors, and represents both the executive branch and the legislative branch of each country involved.