The economic assistance from the US Tuna Treaty with the PIF countries will go to a little over $3 million next year due to a triple increase in the financial package, which went from $20 million a year to $60 million.

The Treaty, a multilateral treaty between the United States and the 16 pacific island countries, allows US purse seine vessels to fish in the EEZs of the 16 countries. 

The funds are managed by Forum Fisheries Agency (FFA).  A portion of the money pays for fishing days in each jurisdiction where the purse seiner vessels fish. A portion goes to management, research, and monitoring.  The rest are divided equally between the 16 nations as economic assistance.

Minister Steven Victor said that Palau usually receives around $900 yearly from the Tuna Treaty economic assistance, but he expects that to reach nearly 3 million next year. 

“We won’t get funds for fishing days because we have no purse seine fishing, but we will receive about 3 million from the economic assistance funding,” explained Minister Victor.

The amount of the financial package has been nearly the same since the treaty was first enacted.  During the 51st Pacific Island Forum Leaders meeting in Suva earlier this month, US Vice President Kamala Harris, during a live zoom meeting with Pacific leaders, announced that the Biden administration has agreed to a $60 million a year, or $600  million for the ten-year package.

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