Saudi Fund for Development Signs USD 15 Million Agreement with the Republic of Palau to Drive Local Economic Growth

NGERULMUD, Palau--(BUSINESS WIRE)--Apr 6, 2026--

The Saudi Fund for Development (SFD) today signed a USD 15 million development loan agreement with the Republic of Palau, marking the Fund’s first-ever development partnership in the Pacific island nation.

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The agreement was signed by H.E. Sultan Abdulrahman Al-Marshad, Chief Executive Officer of SFD, and H.E. Surangel S. Whipps Jr., President of the Republic of Palau during a ceremony in Palau’s capital, Ngerulmud.

The USD 15 million development loan will be channeled through the National Development Bank of Palau. Designed to empower the local economy, the financing will support projects spearheaded by Palauan developers, businesses, and entrepreneurs. By aligning with Palau’s national priorities, the funds will catalyze high-impact initiatives and foster sustainable, grassroots economic growth.

This agreement reflects SFD’s continued commitment to Small Island Developing States (SIDS), having supported development projects across 18 island nations in the Caribbean and Pacific regions. Through its financing, SFD contributes to strengthening economic resilience, expanding access to essential services, and enabling sustainable development in developing economies.

H.E. Surangel S. Whipps Jr., President of the Republic of Palau, stated the deep appreciation for the assistance. He noted: “This agreement is about building a stronger Palauan economy by channeling this financing through our National Development Bank so that Palauan developers, businesses, and entrepreneurs can lead new projects that create jobs, unlock investment, and keep more value here at home. At the same time, by prioritizing affordable, climate-resilient housing, we are strengthening our communities, giving our young people more reasons to build their future in Palau, and laying a more resilient economic foundation for generations to come.”

H.E. Sultan Abdulrahman Al-Marshad, CEO of SFD, stated: “We are proud to launch our first collaboration with the Republic of Palau. By expanding access to vital funding, we aim to uplift local entrepreneurs and help secure a resilient future for the Palauan people. This agreement embodies our broader mission to foster prosperity across island nations.”

Since its establishment in 1974, SFD has supported developing countries through concessional financing, contributing to sustainable social and economic growth worldwide.

About the Saudi Fund for Development:

The Saudi Fund for Development (SFD) is a government institution that provides concessional development loans, to finance projects and programs in developing countries.

Since its establishment in 1974, SFD has financed more than 800 projects and programs in over 100 countries, with a total value exceeding USD 22 billion. These projects span sectors including transportation and communications, social infrastructure, agriculture, energy, industry and mining, among others. These projects contribute to generating socio-economic growth and improving the living standards of disadvantaged communities in countries most in need. SFD’s activities are guided by international development principles and support the achievement of the United Nations Sustainable Development Goals. The Fund also works to strengthen development cooperation through partnerships with regional and international organizations.

*Source: AETOSWire

Saudi Fund for Development Signs USD 15 Million Agreement with the Republic of Palau to Drive Local Economic Growth (Photo: AETOSWire)

Saudi Fund for Development Signs USD 15 Million Agreement with the Republic of Palau to Drive Local Economic Growth (Photo: AETOSWire)

Saudi Fund for Development Signs USD 15 Million Agreement with the Republic of Palau to Drive Local Economic Growth (Photo: AETOSWire)

Saudi Fund for Development Signs USD 15 Million Agreement with the Republic of Palau to Drive Local Economic Growth (Photo: AETOSWire)

NEW YORK (AP) — Catchers were far more successful than batters through Major League Baseball's first full week of challenges to robot umpires, led by the Detroit Tigers and David Dingler.

The overall success rate in the Automated Ball-Strike System was 55.2% (299 of 542), with fielding teams winning 59.7% of challenges (175 of 293), including 60.4% by catchers (169 of 280).

“I like it a little more. I was pretty staunch against it, which I still may be to some degree,” New York Yankees manager Aaron Boone said.

There were just 13 challenges by pitchers, who won six. Batters were successful on 49.8% (124 of 249).

“I think it’s fun. It’s its own game inside the game, almost," Tampa Bay catcher Hunter Feduccia said.

Success rate was up from 49.5% last year at Triple-A, where defense won 53.7% and batters 49.5%

Detroit won the highest percentage of calls at 75% (15 of 20) while Arizona was at 71%, and Baltimore and Cincinnati both 67%.

Minnesota called for the most challenges with 32, winning 20 for a 63% success rate. Texas had the fewest, winning 4 of 10.

Cleveland was the least successful at 32%, with Washington at 38% and St. Louis and Texas at 40%

Detroit catchers were 8-0, with seven wins by Dingler.

ABS' impact could be seen when Atlanta played at Arizona last Thursday. The Braves were ahead 2-1 when the Diamondbacks' Ryne Nelson threw a 3-2 curveball on the upper, outside corner to Ozzie Albies that was called a strike by Malachi Moore. Albies challenged and headed toward first even before ABS showed the pitch missed the strike zone by 1.1 inches. The walk started an eight-run rally in a 17-2 romp.

“In some of these games, it’s had a more of a swinging effect on outcomes of at-bats and how things change than maybe even you thought,” Miami manager Clayton McCullough said.

Logan O’Hoppe of the Los Angeles Angels had the most victories, successful on 10 of 12. The Marlins’ Agustín Ramírez won 7 of 9 and the Los Angeles Dodgers’ Will Smith 8 of 11.

Seattle’s Cal Raleigh won 4 of 9 and the Athletics’ Shea Langeliers 3 of 9.

Among batters, Mark Vientos of the New York Mets and Iván Herrera both went 3-0. Mike Trout of the Los Angeles Angels was 3-1 along with Philadelphia's Kyle Schwarber and Tampa Bay's Jake Fraley.

Colorado's Hunter Goodman and Washington's Luis García Jr. were both 0 for 3.

Boone said Yankees staff and players daily review challenges made and opportunities missed.

Players still are getting used to ABS. Washington's Jorbit Vivas tapped his helmet signaling for an appeal on March 31 when the Nationals already had exhausted their two challenges.

Among umpires, Mike Estabrook had 11 of 12 calls overturned (91.7%), Andy Fletcher had 15 of 17 (88.2%), Ron Kulpa and Paul Clemons each 7 of 9 (77.8%) and Chris Segal 10 of 13 (76.9%), according to taptochallenge.com.

Will Little had just 1 of 10 calls reversed while Erich Bacchus was perfect with no overturned calls in five challenges. Others with low overturn rates with at least five challenges included Emil Jiménez (1 of 5), Jordan Baker (2 of 8), Ryan Additon and Nick Mahrley (both 2 of 7) and David Rackley (3 of 10).

Offense again lagged through the first 139 games of the 2,430-game season.

The .234 big league batting average is down from .239 through the first full week last year, when it finished at .245. The average usually increases as the weather warms. The full-season low of .237 was set in 1968.

Average fastball velocity is 94.6 mph, up from 94.1 mph through the first full week last year. The final figure increased in each of the last five seasons to a record 94.5 mph in 2025. It was 91.9 mph when MLB first started tracking in 2008.

“I wish I was facing the same pitching as I did my rookie year back when guys were throwing 88-mile-an-hour sinkers over the plate," said 33-year-old Cleveland catcher Austin Hedges. “That pitch doesn’t exist anymore.”

AP Sports Writers Dan Gelston and Steve Megargee, and AP freelance writer Tom Withers contributed to this report.

AP MLB: https://apnews.com/MLB

Houston Astros' Jose Altuve (27) watches a replay of the Automated Ball-Strike Challenge System (ABS) during the first inning of a baseball game against the Boston Red Sox in Houston, Monday, March 30, 2026. (AP Photo/Ashley Landis)

Minnesota Twins' Josh Bell, right, signals for an ABS challenge on a called third strike, which was upheld, during the first inning of baseball game against the Tampa Bay Rays, Saturday, April 4, 2026, in Minneapolis. (AP Photo/Matt Krohn)

Detroit Tigers catcher Dillon Dingler throws to first base for an out on a St. Louis Cardinals' Victor Scott II bunt in the first inning of a baseball game Saturday, April 4, 2026, in Detroit. (AP Photo/Paul Sancya)