OIA Press Releases (2020 to Present)

Trust Fund Chairman Assures that Illegally Withdrawn Funds are Fully Restored

10/26/2017

WASHINGTON (October 26, 2017) – Chairman Nik Pula of the Trust Fund for the People of the Republic of the Marshall Islands (the Trust Fund) confirmed this week that funds compromised by cyber-attacks at State Street Financial Services Company (State Street) have been fully restored and diligence stepped up after the discovery of fraudulent withdrawals of more than $600,000. 

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Interior Transfers Payment of $17 Million to Compact Trust Fund for the People of the Republic of the Marshall Islands

10/06/2017

WASHINGTON (October 6, 2017) – U.S. Assistant Secretary for Insular Areas Doug Domenech has announced the payment of $16,854,600 to the Compact Trust Fund for the People of the Republic of the Marshall Islands.  An additional partial payment of $9,070,200 was also provided separately to the Marshall Islands for ongoing use of Kwajalein Atoll, the site of the Ronald Reagan Ballistic Missile Defense Test Site. 

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United States and the Federated States of Micronesia Hold Annual Joint Economic Management Committee Meeting

09/06/2017

Honolulu, HI (September 6, 2017) - The Federated States of Micronesia (FSM) and the United States bilateral Joint Economic Management Committee (JEMCO) annual meeting took place Wednesday, August 30, 2017, in Honolulu, Hawaii.  The Committee members jointly allocated $61 million for the sectors of health, education, public sector capacity building, private sector development, environment and public sector infrastructure as identified under the Compact of Free Association, as amended, for the benefit of the people of the FSM.  The JEMCO promotes the effective use of funding under the Compact, as amended, and provides the opportunity for FSM and U.S. officials to discuss priorities regarding this funding and how best to achieve them. 

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United States and the Republic of the Marshall Islands Hold Annual Joint Economic Management and Financial Accountability Committee

09/06/2017

Honolulu, HI (September 6, 2017) - The Republic of the Marshall Islands (RMI) and the United States (U.S.) bilateral Joint Economic Management and Financial Accountability Committee (JEMFAC) annual meeting took place Tuesday, August 29, 2016, in Honolulu, Hawaii.  The Committee members jointly approved $28 million in the sectors of health, education, environment, and public infrastructure as identified under the Compact of Free Association, as amended, for the benefit of the people of the RMI.  This annual meeting of the JEMFAC serves to promote the effective use of funding under the Compact  and provides the opportunity for RMI and U.S. officials to discuss bilateral priorities pertaining to Compact funding and how best to achieve them.

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