The World Bank has asked President-elect Johnson Toribiong to schedule a meeting next month to discuss oil and gas exploration in Palau.
In a letter to Mr Toribiong, Nigel Roberts, World Bank director for the Pacific East Asia region, said he wants to improve his understanding of the challenges Palau faces, as well as to discuss progress made in the current assistance program.
Mr Roberts says he wants to seek the President-elects advice on other areas of cooperation that he may deem appropriate.
The World Bank has also agreed to help Palau carry out a National Renewable Energy Action Plan.
Mr Roberts told the Horizon newspaper the plan is designed to help Palau make maximum use of its renewable energy resources and lessen its dependence on imported oil.
