Interior Provides $21.8 Million in Compact Assistance Payments to Federated States of Micronesia for Last Quarter of FY15

WASHINGTON, D.C. (October 21, 2015) –The U.S. Department of the Interior's Office of Insular Affairs this month released grant payments under the Compact of Free Association totaling $21.8 million to the Government of the Federated States of Micronesia (FSM) Department of Finance.  These payments, for the last quarter of fiscal year 2015, were for Compact Sector Grants, Carry-Over Sector Grants, and Supplementary Education Grants.  The breakdown of these payments by sector follows:

Total Amount                                               $21,779,624

The breakdown by FSM State recipient of this final quarter of 2015 funding is broken out as follows:

Chuuk                                                             $10,376,494
National Department of Education

and College of Micronesia                          $  1,426,139

Compact grants provided by the United States to the Federated States of Micronesia are pre- determined through the bilateral Joint Economic Management Committee (JEMCO) meetings between the United States Government and the Federated States of Micronesia national government as established under the Compact of Free Association.

The Compact provides approximately 90% of the FSM's annual budget for health, education, and infrastructure development and maintenance.   The close relationship between the U.S. Government and the Federated States of Micronesia is enshrined in the Compact of Free Association, under which the United States also provides guaranteed financial assistance over a 20-year period in exchange for full international defense authority and responsibilities.  Annual Compact grants expire in 2023.

The Assistant Secretary for Insular Areas carries out the administrative responsibilities of the Secretary of the Interior in coordinating federal policy for the territories of American Samoa, Guam, the U.S. Virgin Islands and the Commonwealth of the Northern Mariana Islands, and administering and overseeing U.S. federal assistance to the Freely Associated States of the Federated States of Micronesia, the Republic of the Marshall Islands, and the Republic of Palau under the Compacts of Free Association. The Assistant Secretary executes these responsibilities through the Office of Insular Affairs.

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