Palau gets its first PPP

The first PPP project in Palau achieved first draw-down in August 2019 and could be a model PPP for the country. In this article, Japan International Cooperation Agency (JICA), as sole lender, and Nagashima Ohno & Tsunematsu (NO&T), as lender’s legal adviser, provide an overview of the financing of the renovation, expansion and management of Palau International Airport project and describe some of its notable features. By Yuichiro Sano, Eiichi Murashima and Toshiaki Ano of JICA, and Shinichi Matsui, Rintaro Hirano and Naoko Kamimura of NO&T.