28 Mar 2012

Worries in CNMI at sudden withdrawal of small business grant

4:26 pm on 28 March 2012

There's concern in the Northern Marianas at the U.S. Small Business Administration's sudden decision to cancel a grant of just over a million US dollars.

The CNMI Commerce secretary, Sixto Igisomar, says a substantial amount of the grant has already been spent by the agencies involved.

The grant in question is the State Trade and Export Promotion which aims to increase the number of small businesses that are exporting, and increase the value of their exports.

Mr Igisomar says the programme authorised the CNMI to spend and claim back expenses related to the grant.