 FSM awarded 9 million for airport improvementPalikir, POHNPEI (FSMIS): August 27, 2004 - President Joseph J. Urusemal has notified the four Governors that $9.45 million has been awarded to the Federated States of Micronesia for airport improvement projects in each state. The National Government had, on behalf of the state governments, officially accepted the grant award during a signing ceremony held in Palikir on August 20, 2004. The grant was made available through the Airport Improvement Program (AIP) under the United State's Federal Aviation Administration (FAA) The AIP discretionary funds are limited and therefore distributed on a highly competitive basis based on the AIP priority ranking system with top priority given to projects of airport safety and emergency response requirements. In December 2003, the FSM had become eligible for AIP discretionary funding under the FAA's Western-Pacific Region. Until the year 2007, the FSM remain eligible for the AIP discretionary fund. For fiscal year 2004, the FAA has awarded a total of $9.45 million in AIP discretionary fund for FSM's airports in accordance to the following:
Awarded to the four state airports, the funding is contingent upon the following eligibility cost sharing: Airports - 5% and FAA - 95%. Under the FAA, the AIP program is designed to assist the development of a nationwide system of public-use airports by providing funds for airport planning and development projects. |