Friday, April 5, 2013

FSM receives $6.6 Million Compact grants

Recent information from the United States Embassy in Nett shows a transfer of $6,677,016 in Compact grants during the month of March with specific amounts for the following sectors as follows:

Health Sector Grants $1,813,967
Education Sector Grants $1,650,000
Infrastructure Grants $1,500,795
Supplementary Education Grants $ 816,000
Capacity Building Grants $ 467,254
Environmental Sector Grants $ 170,000
Private Sector Development Grants $ 165,000
Enhanced Reporting and Accountability Grants $ 94,000 

These amounts will fund various sectoral activities at the State Governments and the FSM National Government in the following distribution:

National Government $548,221
Chuuk $2,235,000
Kosrae $1,145,113
Pohnpei $1,322,689
Yap $1,425,993 

Compact-related sectoral activities are approved through a rigorous annual budget consultative process between the FSM and the United States that ends with the Joint Economic Management Committee (JEMCO) process. 

Adherence to funding purposes are ensured through periodic review and other control methods.

For further information, call the FSM Department of Finance and Administration, Investment Division at 320-2640 or write 

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