Pohnpei Gets $2.6 Million Early Retirement Fund

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Pohnpei Gets $2.6 Million Early Retirement Fund

PALIKIR, Pohnpei (FSM Information Service): September 16,
1997 – FSM President Jacob Nena, on September 5, 1997, advised
the FSM Director of Budget to sub-allot to Governor of the State of
Pohnpei $2.6 million, its share of the $10 million Public Sector
Reform loan from the Asian Development Bank (ADB) for implementation
of its early retirement program.

Pohnpei State has met all conditions required under the applicable
laws to draw and start using these funds, Nena said.

President Nena also directed the Director of Budget to allot $1.5
million FSM National Government’s share to the FSM Vice President who
is the FSM Task Force Chairman, which anticipates usage of the funds
to begin on October 1, 1997. The National Government has met all
conditions required under applicable laws, Nena concluded.