Government of the Federated States of Micronesia

Pohnpei Gets $2.6 Million Early Retirement Fund

PALIKIR, Pohnpei (FSM Information Service): September 16, 1997 - FSM President Jacob Nena, on September 5, 1997, advised the FSM Director of Budget to sub-allot to Governor of the State of Pohnpei $2.6 million, its share of the $10 million Public Sector Reform loan from the Asian Development Bank (ADB) for implementation of its early retirement program.

Pohnpei State has met all conditions required under the applicable laws to draw and start using these funds, Nena said.

President Nena also directed the Director of Budget to allot $1.5 million FSM National Government's share to the FSM Vice President who is the FSM Task Force Chairman, which anticipates usage of the funds to begin on October 1, 1997. The National Government has met all conditions required under applicable laws, Nena concluded.

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