United States-Republic of the Marshall Islands Hold Annual Joint Economic Management and Financial Accountability Committee 2016 Annual Meeting

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 August 23, 2016 in Honolulu, Hawaii.  The Committee members jointly allocated approximately $34 million for the sectors of health, education, and public sector infrastructure as identified under the Compact of Free Association, as amended, for the benefit of the people of the RMI.  The JEMFAC promotes the effective use of funding under the Compact, as amended,  and provides the opportunity for RMI and U.S. officials to discuss priorities as pertains to this funding and how best to achieve them.

The JEMFAC members from both the RMI and the U.S. governments:

• Reaffirmed our mutual commitment to peace, prosperity, and shared democratic values. 
• Recognized the importance of the enduring relationship between our two countries, welcomed the 30^th Anniversary of the Compact relationship, and highlighted areas for continued cooperation to advance our shared goals.
• Reaffirmed that the goal of funding provided under the Compact, as amended, is for the benefit of the people of the RMI. 
• Recognized the challenges faced by the RMI Government in developing the capacity of the Finance Ministry, the need to resolve questioned costs, and proposed coordination with other donors to address these issues.
• Reaffirmed the importance of sustainable and inclusive economic development through improved education standards and access to primary healthcare.
• Recognized the need to continue to develop clear, simple, measurable and verifiable performance indicators in health and education.
• Recognized the importance of climate change adaptation and resilience to continued economic advancement in the RMI. 
• Endorsed the RMI’s continued commitment to budgetary self-reliance through voluntary contributions to the Trust Fund for the People of the Republic of the Marshall Islands. 
• Welcomed a representative from the U.S. Government Accountability Office who emphasized the critical need for reliable data to verify effectiveness of funds spent, measure progress, and target areas for improvement.
• Welcomed presentations from We Are Oceania Micronesian One Stop Shop in Honolulu and the Guam Micronesian Resource Center One Stop Shop on efforts to assist citizens of the Freely Associated States in Hawaii and Guam.

The JEMFAC looks forward to its next mid-year meeting in the Spring 2017.  The JEMFAC is comprised of the following members:  Chairman Nikolao Pula (U.S.), Vice Chairman John Silk (RMI), Brenson Wase (RMI), William Gallo (U.S.), and Nicholas Dean (U.S.).