China grants $1 million USD for the Federated States of Micronesia Trust Fund in 2007

Funder	China (People's Republic of)
Recipient Organization	Micronesia
Country	Micronesia
Start Date	Sep 15, 2007
End Date	Jun 22, 2033
Duration	9,412 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`41946`

Grant Description

On December 20, 2007 during the Micronesian president's official visit to Beijing, the Chinese Vice Minister of Commerce signed an exchange of letters granting $1 million USD to Micronesia for their national trust fund.

The financing transferred and accredited to the FSM National Government savings account with the Bank of FSM on March 11, 2008. Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.