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Nena Asks Funding for Extension of MEDC Project

PALIKIR, Pohnpei (FSM Information Service): November 12, 1997 - FSM President Jacob Nena, on November 5, 1997, transmitted a proposed bill for Congress' consideration, requesting for $194,000, to fund a one-year extension of the Micronesian Entrepreneur Development Center (MEDC) project, up to February 1999.

The requested fund is equivalent to 50 percent of the cost of the project. As a joint project, the UNDP contributes the other 50 percent. Thus, the total cost is $390,000.

Micronesian Entrepreneur Development Center project is concerned with promoting indigenous small and medium businesses in the FSM when the public sector or the governments are down-sizing or undergoing reduction through restructuring and the voluntary early retirement program for its employees.

MEDC has over the past years conducted its programs in various FSM States and without FSM's 50 percent contribution, its contemplated extension to February 1999 is uncertain.

Nena concluded by requesting a favorable consideration by Congress.