A new funding package worth more than 3 billion US dollars to the Marshall Islands is to be formally signed by United States and Marshall Islands officials at the end of this month.
After nearly four years of negotiations between Washington and Majuro, the newly amended Compact of Free Association has two key sections.
It provides US funding of more than 800 million US dollars for the next twenty years to the Marshall Islands government and an extension of American use of the Kwajalein missile testing range through to 2066 in exchange for payments totalling 2 point 3 billion dollars.
Once signed, the new agreement will be sent to Marshall Islands leaders for review and approval and simultaneously to the US Congress for its approval.
