Palau government has kept the details of the MOU signed last month in Washington DC on the Compact Review Agreement under wraps. The only information from the press release was that it would be double the previous offer.
President Whipps arrived last week from his 18-day travel and expected to report on the outcomes of his travels at the next press conference.
Meanwhile, President David Panuelo of the Federated States of Micronesia reported that he had secured over $7 billion for FSM over the next 20 years and beyond 2044.
One of the details revealed is the $500 million infusion into FSM Trust Fund, which is expected to reach $4 billion by 2044.
“It is in our strategic interest to ensure that, no matter what the future brings, we can collectively and always count on the Trust Fund to be a source of revenue for our people,” stated FSM President Panuelo.
The package does not include US grant assistance FSM receives, such as PELL grants, FAA regulations, or Post Office services.
FSM still needs to sign the Memorandum of Understanding with the US but plans to do so this February.
Palau and the Republic of the Marshall Islands have signed Memorandums of Understanding on their respective compacts, but specifics of either MOUs have yet to be made public.