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Japan funds Yap road

PALIKIR, Pohnpei (FSM Information Service): May 25, 2001 - In a brief Exchange of Notes Ceremony on May 22, 2001, the Governments of the Federated States of Micronesia and Japan, signed the second phase of the Yap Road Project.

Secretary Ieske K. Iehsi of the Department of Foreign Affairs and Charge d' Affairs ad interim Takenori Yamazaki, on behalf of the two Governments, signed the agreement for the project: Road Improvement of the State of Yap.

The Government of Japan has availed to the FSM a grant up to Eight Hundred Fifty Five Million yen (¥855,000,000) for execution and implementation of the Project. The funding will be made available in two terms: ¥220,000,000 will be available by March 31, 2002, and the remaining ¥635,000,000 will be available by March 31, 2003.

The Government of Japan has continuously over time been the major Asian country with substantial direct involvement in the FSM development. Of historical significance, according to Secretary Iehsi, is that Japan has the longest record of "sustained constructive commercial relations with Micronesia."

Iehsi said that the FSM is ready for the implementation phase of the project, stating that the Road project will "certainly contribute tremendously to the increased movement of people and transportation of goods and services in Yap."

A statement echoed by Chargé Yamazaki who said that upon its completion "the much improved road will be an immense contribution to the FSM, Yap State in particular, in areas of infrastructure and economy."

The Project according to Yamazaki is also "consistent and supportive of the State of Yap's development objectives and the FSM's National building efforts."

Both Governments expressed their mutual understanding and promotion of relations with each other and agreed to further strengthen the existing friendly and cooperative relationship between the two.