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New Zealand : FEDERATED STATES OF MICRONESIA forms collaboration deal with WORLD BANK

June 10, 2014

The Federated States of Micronesia has formed a first country partnership strategy with the World Bank.

The deal has been made in a bid to boost incomes and develop access to services in FSM.

Among the areas the strategy will focus on are improvements to infrastructure, comprising the electricity supply and telecommunications, raising revenue from fishing and toughening the investment climate.

The first programme to go ahead under the strategy, which will run to 2017, is a US$14m energy sector development project, financed by a grant from the International Development Association.

This is directed at raising the available power generation capacity and efficiency of the four state power utilities to make the electricity supply more sustainable and affordable.

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Source: TendersInfo (India)