FSM Finance accepts $250,000 from FSM National Fisheries Corporation

From left: Mr. Sitan, FSM R&D Secretary Henry and FSM Finance and Administration Secretary Ikosia during formal handing over of payment from NFC to FSM Finance. 

FSMIS (September 27, 2014): On September 26, 2014, Mr. Kensley Ikosia, Secretary of the Federated States of Micronesia Department of Finance and Administration, formally accepted a check of $250,000 from Mr. Peter Sitan, Executive Director of the FSM National Fisheries Corporation. 

In a letter of September 25th, Mr. Marion Henry, Chairman of the NFC Board of Directors, indicates that the money is a fifty-percent payment for an Air Freight loan extended to NFC by the FSM National Government in 1997. 

"This is the first payment ever made by the Corporation which made the Board and Management very proud of this achievement. We hope to pay off the a lance of the air freight loan within the next 12-20 months." 

The formal handing over of the check was done at Secretary Ikosia's office in Palikir.