China grants $1 million USD for the Federated States of Micronesia Trust Fund in 2010

Funder	China (People's Republic of)
Recipient Organization	Micronesia
Country	Micronesia
Start Date	Nov 22, 2010
End Date	Jun 03, 2029
Duration	6,768 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`62587`

Grant Description

On March 8, 2010, Chinese and Micronesian government officials signed an exchange of letters in which China granted $1 million USD (roughly 6.85 million in 2010 RMB) to the FSM Trust Fund. On May 30, 2010, a resolution was introduced in FSM's 16th Congress to approve these funds.

On July 16, 2010, a Chinese embassy official and the Micronesian Secretary of Foreign Affairs executed a Hand-Over Certificate confirming that $1 million USD had been transferred by the Government of the People's Republic of China to the FSM Trust Fund in June 2010. How exactly these funds were spent is unknown.

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.