FSM Delegation in D.C. for IMF and World Bank Annual Meetings
Washington D.C., – FSM Delegation in D.C. to attend the Annual Meetings for the International Monetary Fund (IMF) and the World Bank (WB) held from 15 – 20 October 2019. Mr Eugene Amor lead the FSM Delegation to the 2019 meetings. The Delegation met with World Bank Executive Director Kunil Hwang, who represents the constituency at the World Bank that includes the FSM as a member. The Delegation later met with Executive Director Nigel Ray, who represents FSM at the IMF Board of Executive Directors.
The Delegation met with Michel Kerf, Director of the Pacific Region and his team to discuss the current and future FSM project portfolio. The World Bank is financing various projects in the FSM in the sectors – energy, telecommunications, fisheries, and financial management. The most recent project approved was the $38 million Maritime sector project and the last project of the IDA18 cycle, the Digital FSM Project ($30 million), will go to the World Bank Board in February 2020. This will bring the value of current World Bank projects in the FSM to over $200 million. The FSM reiterated its commitment to building its capacity to implement such a large portfolio.
Mr Amor expressed appreciations for the assistance rendered to the FSM by both the IMF and World Bank and expressed commitment to continue to foster the good working relations. The FSM Delegation was informed that the DA19 allocation for the country for the period from July 2020 to June 2023 will most likely remain at the current level of $65 million. Head of Delegation Amor thanked the Bank for their continued trust in FSM to manage such a high level of financing.
Mr. Amor attended the Small States Ministerial Roundtable where discussions focused on “financing climate change adaptation and resilience”, “economic and financial resilience”, and the “blue economy”, which looks at “financing sustainable fisheries and reducing marine pollution”. He also attended the Pacific Seminar which had a focus of the digital economy.
Head of Delegation Amor was assisted at the meetings by Acting Secretary of Finance Senny Phillip, Ms. Julyn Lawrence from the International Finance Division, and Mr. Rob Solomon, Finance and Economic Advisor with the FSM National Government. Also attending from the FSM were Chairman Isaac V. Figir, FSM Congress, Ambassador Susaia and Deputy Chief of Mission Jack Soram, FSM Embassy in D.C., and Ms. Allison Laffen, Staff Attorney, FSM Congress.
