2 Mar 2009

Businessman says Marshall Islands loses tens of millions through inaction

7:09 am on 2 March 2009

A leading businessman in the Marshall Islands says the government is losing tens of millions of dollars in donor grants through inaction.

Jerry Kramer, the chief executive of the country's biggest construction company, Pacific International, says the Marshall Islands is eligible for 6 to 10 million dollars from Japan annually for infrastructure projects.

But he says there hasn't been a project in five years.

He told the Marshall Islands Chamber of Commerce a simple law change could bring in 30 to 40 million dollars from the United States for construction work and jobs.

Mr Kramer says tens of millions of dollars in grants are also available from the European Union and Asian Development Bank which have not been tapped by the government.