Foreign Assistance
U. S. Fund to Two Micronesian Nations Had Little Impact on Economic Development
Description:... In 1986, the U.S. gov't. entered into an agreement, the Compact of Free Assoc. (CFA), with the Fed. States of Micronesia (FSM) and the Rep. of the Marshall Isl. (RMI). U.S. direct financial assist. under the Compact, which began in 1987, is intended to help the governments of the two countries in their efforts to advance their economic development and self-sufficiency. This report discusses: (1) the use of CFA funding by the FSM and the RMI between FY 1987 and 1998; (2) the progress both nations have made in advancing economic self-sufficiency; (3) the role of Compact funds in supporting economic progress, and (4) the extent of accountability by the 2 nations and the U.S. over Compact expend.
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