- By Pacific island Times News Staff
FSM, Marshall Islands receive $133 million in Compact funds
The U.S. Department of the Interior has released $133 million in fiscal year 2020 grant payments to the Federated States of Micronesia and the Republic of the Marshall Islands as provided for under the Compact of Free Association, or Public Law 108-188, DOI Assistant Secretary for Insular and International Affairs Douglas W. Domenech announced today.
Domenech said the $133 million in funding provided for under the Compact of Free Association agreements is critical to basic government operations and in providing stability for individuals and families in both the Federated States of Micronesia and the Republic of the Marshall Islands.
Payments also bolster disaster emergency funds for unforeseen events and their respective Compact Trust Funds for the future,” said Assistant Secretary Domenech. “Secretary Bernhardt and I are proud of Interior’s role as part of the larger U.S. Government relationship with these freely associated states.”
According to Ambassador Carmen Cantor, U.S. Ambassador to Micronesia, “The funding provided under the Compact of Free Association between our two countries shows our enduring commitment to the people of the Federated States of Micronesia.
These funds not only support Micronesia's current response to the coronavirus pandemic, but also help build a more stable and prosperous future for all Micronesian citizens.
”In the Marshall Islands, U.S. Ambassador Roxanne Cabral said, “We Compact Sector allocations for the FSM and the RMI are approved each year by bilateral Joint Economic Management Committees.
Thus far, payments made to the Federated States of Micronesia in FY 2020 consist of Compact Sector Grant assistance, Supplemental Education Grant assistance, and a deposit into the FSM Compact Trust Fund, altogether totaling $79,320,663.
In addition, payments made to the Republic of the Marshall Island in FY 2020 thus far consist of Compact Sector Grant assistance, Supplemental Education Grant assistance, support of the Kwajalein Land Use Agreement, and a deposit into the RMI Compact Trust Fund, altogether totaling $53,793,939, as detailed below.
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