Meta Data

Draft:

Revision of previous policy?:

Effective Start Year:

2011

Scope:

National

Document Type:

Other

Economic Sector:

Energy, Power

Energy Types:

Power, Renewable, Other

Issued by:

Congress of the FSM

Source:

Congress of the FSM

File:

Resolution No 17-54 of 2011 approving Renewable Energy and Energy Efficiency Incentives

Overall Summary:

The Resolution No 17-54 of 2011 approving Renewable Energy and Energy Efficiency Incentives approves the €14,440,000, and €630,000 financial grants to the Federated States of Micronesia from the European Commission for the Economic Development Fund 10, specifically, the North Renewable Energy Project and Technical Cooperation Facility.

Renewable Energy

Public investment loans or grants:

[...] the European Commission committed to the Federated States of Micronesia financial assistance in the total amount of €14,440,000 (approximately $20,000,000) under Economic Development Fund 10 for the North Renewable Energy Project, and €630,000 (approximately $873,000) for the Technical Cooperation Facility [...]

Full Document Text

SEVENTEENTH CONGRESS OF THE FEDERATED STATES OF MICRONESIA

SECOND REGULAR SESSION, 2011 C.R. NO. 17-54

A RESOLUTION

Approving the €14,440,000, and €630,000 financial grants to the Federated States of Micronesia, and all the terms and conditions of said grants, from the European Commission for the Economic Development Fund 10, specifically, the North Renewable Energy Project and Technical Cooperation Facility.

WHEREAS, the European Commission committed to the Federated States of Micronesia financial assistance in the total amount of €14,440,000 (approximately $20,000,000) under Economic Development Fund 10 for the North Renewable Energy Project, and €630,000 (approximately $873,000) for the Technical Cooperation Facility; and

WHEREAS, the purpose of the North Renewable Energy Project is to increase in-country capacity to promote, deliver and sustain renewable energy efficiency programmes, increase access to affordable, safe, clean, reliable and sustainable electricity supply in targeted islands, and improve energy efficiency; and

WHEREAS, the purpose of the Technical Cooperation Facility is to implement the FSM’s Development Strategy through the support of sound development programmes financed from the Economic Development Fund 10, and to foster a more coherent and informed approach to development and trade issues; and

WHEREAS, 55 F.S.M.C. 210(2) requires foreign financial assistance to be approved by Congress by resolution; and

WHEREAS, Congress is grateful and appreciative to the European Commission for the benevolent assistance and gesture of strengthening friendly and cooperative relations; now, therefore BE IT RESOLVED by the Seventeenth Congress of the Federated States of Micronesia, Second Regular Session, 2011, that the Congress hereby approves the €14,440,000 and €630,000 financial grants to the Federated States of Micronesia from the European Commission, including all the terms and conditions thereof; and BE IT FURTHER RESOLVED that certified copies of this resolution be transmitted to the President of the Federated States of Micronesia, the Secretary of the Department of Foreign Affairs, and the National Authorizing Officer.

Dated: 9/19/11 Introduced by: /s/ Florencio S. Harper

Florencio S. Harper

(by request)