Around $26M ADB funding available for FSM

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Peter M. Christian, Federated States of Micronesia president met this week with ADB officials to discuss the financial institution's country programming for the region, according to the FSM public information office. (PNC photo)

(PALIKIR, Pohnpei) – Around $25 million worth of grant funding from the Asian Development Bank (ADB) are available in 2019 and 2020 to support critical infrastructure projects in Yap, Kosrae, Pohnpei, and Chuuk. 

Peter M. Christian, Federated States of Micronesia president met this week with ADB officials to discuss the financial institution’s country programming for the region, according to the FSM public information office. 

During the meeting, Christian had requested that the funding be allotted for basic infrastructure projects all over the islands.

Christian named several potential areas where the funding could be used, such as the much needed school road improvements and bridge rebuilding projects in Yap, and the construction of a vocational education institution in Pohnpei.

“You can’t go wrong with basic infrastructure,” Christian said, “because where the road leads, the economy follows. Better roads means better houses, better sewer systems, better education response and better healthcare response….”

James Lynch, deputy director general of ADB’s Pacific Department met with Christian to discuss how ADB’s engagement with the FSM focused on energy, water, and education. Lynch said ADB will assist the FSM government create a roadmap within 30 days to prioritize the allocation of the grant resources for the different states.