29 Dec 2009

Northern Marianas struggling to comply with stimulis package requirements

4:16 pm on 29 December 2009

The Northern Marianas has so far drawn down around 12 million US dollars of the estimated 97 million available to it under the United States stimulis package.

The Commerce Secretary Michael Ada says it has drawn down seven point six million under the American Recovery and Reinvestment Act for the first quarter of 2010.

The remainder had been drawn down earlier.

The acting Governor Eloy Inos, has told local media that while the CNMI has so far been awarded over 90 million dollars in ARRA grants, it has spent around 8 million of this.

He says it will pump a lot of money into the economy, but he says the CNMI has been having difficulties with the Buy America clause in the ARRA Act, as well as transparency issues.

But he says they are making a lot of progress.