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Direct financial assistance from US to Palau continues in 2012

By Aurea Gerundio-Dizon KOROR, Palau (Island Times, Jan. 2, 2012) – United States Ambassador to Palau Helen Reed-Rowe Friday informed President Toribiong that President Obama signed on December 23 the Consolidated Appropriations Act 2012, which includes funding for Palau in the amount of US$13,147,000 in FY 2012 for its government operations.

Despite delays in the approval of the Compact Review agreement by the US Congress, Palau will receive direct assistance from the US for FY 2012.

Toribiong thanked the US for its continued assistance to Palau.

With the assurance that Palau will be receiving direct financial assistance from the US for FY 2012, the local government will only be withdrawing aUS$5 million from the Trust Fund to supplement the funding for the national budget.

As to the extended assistance to Palau up to year 2024, following the Compact Review agreement, earlier reports showed Palau has the support of high ranking officials in the US.

During the hearing by the House Foreign Affairs Committee, Subcommittee on Asia and Pacific, Deputy Assistant Secretary of State James Loi, Brigadier General Richard Simcock from the Office of the Secretary of Defense, Director of Budget Thomas Bussanich and International Affairs and Trade Director David Gootnick provided testimonies supporting the extension of US assistance to Palau through the Compact agreement.

Island Times © 2012 Island Times. All rights reserved

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