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New USDA-RD Area Specialist for Chuuk State

Palikir, POHNPEI (FSM Information Service): December 16, 2008 - On December 2, 2008, Chuuk State received its new United States Department of Agriculture-Rural Development Specialist; Mr. Patrick Ryan Kenney. Mr. Kenney assumed the position of Area Specialist for the USDA-RD Chuuk State Office and commenced his duty assignment. Mr. Kenney formerly worked in Arizona as a mortgage lending specialist. Upon taking the position of Area Specialist in Chuuk, Mr. Kenney has plans to decrease the delinquency rate of 504 unsecured loans from 18%, which he considers high, to a more reasonable number like 12%. USDA Rural Development delivers important contributions to the social and economic development of the FSM by lending money through 504 unsecured loans and grants to people who have no other means to make improvements to their existing homes. These loans can be made up to $7,500.

Mr. Kenney stated that his biggest challenge will be to locate public records and make sure people own the property that they reside on before they can get a loan. Since the Public Records building burnt down in Chuuk several years ago, this process can be difficult and potentially can slow down the lending that USDA-RD can do in Chuuk.

President Mori sent out a memo to all Department and Agency Heads of the National Government to announce Mr. Kenny's arrival and requested cooperation and courtesy for Mr. Kenney to facilitate his duties during his tenure in Chuuk.