Palau: History
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Spain claims the islands which are now present-day Palau.
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Palau is bought by Germany who exploits their resources of phosphate and coconuts.
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Japan seizes Palau after defeating Germany in World War I.
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Palau becomes a United Nations Trust Territory under US administration after the defeat of Japan in World War II.
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Palau opts to not become part of the Federal Micronesian state.
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Palau joins the UN.
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Palau is granted independence but continues to receive financial aid from the US. The US also retains responsibility for defense.
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The US gives Palau $250 million in aid.
Sources:
BBC NewsBritannica