Executive Branch transmits Foreign Financial Assistance from China to 16th Congress for Approval
Palikir, Pohnpei (FSM Information Services): January 22, 2010 - President Mori has transmitted an agreement on the receipt of foreign financial assistance between the Government of China and the Government of the Federated States of Micronesia in the amount of RMB 14.5 million (US $2.1 million) to be utilized for the repair of the cargo-passenger ship Chief Mailo, which is currently docked at the port in Weno, Chuuk.
Pursuant to Section 210, Title 55 of the FSM Code, Congress must approve, by resolution, all foreign financial assistance to the FSM. This financial assistance from China was made from an exchange of notes executed by the two governments on April 17, 2009, subject to the signing of a contract for the repair of the boat. The contract for repair of the boat was executed on December 11, 2009, and is being transmitted to Congress for approval.
President Mori has requested all departments and agencies of the FSM Executive Branch to assist Congress in their consideration of this assistance and to work to see the completion of this project.
For further information on this release, please contact:
FSM Office of the President Public Information: Press, Radio, Video P.O Box 34 Palikir Station, Pohnpei, FM 96941 Tel.: (691) 320-2548/2092 Fax.: (691) 320-4356 e-mail: email@example.com http://www.fsmpio.fm/