The Pacific Islands Forum Secretariat (PIFS) notes that funds from the United States Compact to FSM will cease in 2023, and FSM is currently developing planning measures to fill the funding gap.
FSM is planning to develop the World Park, with overseas development assistance, and a Trust Fund component.
26 November 2012: The Pacific Islands Forum Secretariat (PIFS) led a peer review of the Federated States of Micronesia’s (FSM’s) development planning, budgeting, public financial and aid coordination processes and systems, during November.
Focusing on the capital state of Pohnpei, the review found that FSM is preparing to develop tourism in a sustainable manner through the adoption of a “World Park” concept.
According to PIFS, funds from the United States Compact to FSM will cease in 2023, and FSM is currently developing planning measures to fill the annual US$100 million funding gap. In order to make Pohnpei self-sufficient post-2023, FSM is planning to develop the World Park, with overseas development assistance, and a Trust Fund component. In addition to tourism, Pohnpei plans to continue developing of the education and health sectors. [PIFS Press Release]