FSM Information Services
December 10, 2012
FSM Receives $62 Million in FY2013 Compact Funding
The U.S. Office of Insular Affairs has issued seven grant awards to the Federated States of Micronesia totaling $50,709,947.
The grant awards are the result of the Joint Economic Management Committee’s recent allocation resolution for fiscal year 2013.
Earlier in the fiscal year, on October 19, 2012, the FSM Division of Compact Management also received this year’s supplemental education grant in the amount of $11,751,632. The eight grant awards totaling $62,461,579 have been apportioned to the five FSM governments according to FSM law.
JEMCO concluded at its September annual meeting that the Compact Infrastructure Sector Grant, which accounts for thirty percent of Amended Compact funding, would only be issued to fund the FSM’s project management unit. Further allocations would be contingent upon OIA’s receipt of an updated infrastructure development plan.
JEMCO also agreed to fund only the first quarter of Chuuk state’s education sector grant budget, pending the outcome of a high level meeting to review progress and implementation of the Chuuk education reform plan. This meeting took place early last month in Weno, Chuuk and based on the communiqué issued, work is currently underway to secure JEMCO allocation of the remainder of Chuuk’s FY13 education sector funding.
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