PALAU OVERDRAWS $2 MILLION FROM TRUST FUND


PACIFICISLANDSREPORT

Pacific Islands Development Program/East-West Center
With Support From Center for Pacific Islands Studies/University of Hawai‘i


PALAU OVERDRAWS $2 MILLION FROM TRUST FUND
US Interior Department requests Palau return funds

MELBOURNE, Australia (Radio Australia, May 11, 2011) – Palau has overdrawn a trust fund provided by the US government by US$2 million.

The Palau government has spent US$7 million of the funding package allocated by the US as part of a compact of free association with Palau.

She’s told Radio Australia’s Pacific Beat program the US Department of Interior has asked the Palau government to return the funds.

“The government is working on returning the US$2 million, since I think they did not anticipate that they will be receiving US$30 million for 2011,” she said.

“Because previous reports says the US government will not be able to provide them the US$13 million for 2011, that they have to wait until the 250 million compact aid agreement is passed by the US congress.”

Radio Australia:

www.abc.net.au/ra
Copyright © 2011 Radio Australia. All Rights Reserved

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