7 Nov 2005

Federated States of Micronesia set to finalise distribution of US treaty funds

7:05 am on 7 November 2005

A special session of Congress has been called to open today in the Federated States of Micronesia.

The meeting comes after the president and the governors of the four states reached an agreement on how to share out funds from the United States under the country's treaty of free association.

Kosrae state is set to receive 10 per cent of Compact funds, Yap state 16 per cent, Pohnpei state 25 per cent, and Chuuk state 38 per cent, and the national government is to get 10 per cent.

The national government is tasked with identifying additional funding sources to assist the states where compact funding is insufficient to meet financial requirements of any of the states.