The $1 million donation is part of the Conservancy’s $3 million commitment made to the Challenge.
Russel Leiman, Director Micronesia Program of TNC, handed the check to President Remengesau.The Micronesian Challenge is a commitment by five Micronesian governments to effectively conserve 30 percent of their near shore marine resources by 2020.The Conservancy’s pledge was matched by the Conservation International.Palau and the Micronesian governments have already leveraged these commitments to raise an additional $6 million in funding from the Global Environment Facility (GEF) as well as other agencies, organizations in targeting $100 million for the endowment.The president in turn donated the money to Micronesian Conservation Trust which will hold and invest Palau’s and other endowment funds. The president also put in an additional $500,000 to the endowment fund.The amount was received from the Republic of China.The president said that in the domestic front, the Olbiil Era Kelulau (OEK) should be recognized for the support to the passage of the original Protected Area Network Law and the subsequent amendment instituted a visitor’s fee that raises over $1.6 million per year to implement and enforce our protected area system.“In support of the Micronesian Challenge and this legislative action,I must offer my highest respect to our state and traditional leaders, who are the real pillars that bind our commitment to the environment,” Remengesau said.Palau, he said is committed in protecting the environment by passing a shark finning law that limits commercial fishing to beyond 50 miles from our shores, as it is in the recent prohibition on the exportation of a live reef fish.“My friends and fellow countrymen, today truly marks a new beginning, as well as a new future for Palau, as we move towards the development of our country to provide for our people’s economic well-being,” Remengesau said.
