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Friday, July 26, 2019
GAO: Micronesia Trust Funds Unlikely to Replace US Aid
By News Release @ 5:49 PM :: 2169 Views :: National News

Trust Funds for Micronesia and the Marshall Islands Are Unlikely to Fully Replace Expiring U.S. Annual Grant Assistance

From US GAO, July 23, 2019

The U.S. is providing $3.6 billion in economic assistance to the nations of Micronesia and the Marshall Islands from 2004 through 2023. This assistance has increasingly been provided as contributions to trust funds for each nation, and is intended to boost their self-sufficiency. After the assistance ends, the trust funds should generate revenue from investments.

We testified that the trust funds may not provide disbursements in some years or sustain their value after 2023.

To date, the U.S. Interior Department has not implemented the 6 recommendations we previously made to address the risks to the funds' ability to provide income after 2023.

PDF: View Report (40 pgs)

Related: U.S. Insular Areas Aid Supports More than 26,000 Jobs  

CB: COFA Nation Trust Funds Won’t Replace US Aid

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