Two Projects set to Improve Safety, Efficiency, Climate Resilience of Maritime Operations
WASHINGTON, Thousands of communities across the North Pacific will benefit from significant upgrades to maritime infrastructure and improved connectivity following approval today by the World Bank’s Board of Executive Directors of two grants for US$38.5 million and US$33.1 million for the Federated States of Micronesia (FSM) and Marshall Islands, respectively. The Federated States of Micronesia Maritime […]
Secretary Lawrence in D.C. for IMF and World Bank Spring Meetings
Secretary Lawrence in D.C. for IMF and World Bank Spring Meetings Washington D.C., – Secretary Lawrence was in D.C. to attend the Spring Meetings for the International Monetary Fund (IMF) and the World Bank (WB) held from 8 – 14 April 2019. At the meetings, Secretary Lawrence met with Ms. Victoria Kwakwa, Vice President of the […]
FSM Annual Finance & Budget Conference Outcomes Strengthen FSM Peace, Unity, & Liberty
PALIKIR, Pohnpei—From March 11th to March 14th, 2019, the 5th annual Department of Finance & Administration (DOFA) Finance & Budget Conference was held in the College of Micronesia China Friendship Gymnasium. Attended by over 200 representatives from across the Federated States of Micronesia (FSM), including relevant staff in charge of finance and personnel from each […]
WYG Consultants Feb 2019
The FSM National Government through World Bank funding approved a Grant to replace the current Financial Management Information System (FMIS) for the National and State Governments. The first step of the Project is for a systems requirements study to be undertaken to determine the technical and function specifications for a new FMIS. WYG International (UK […]
IMF Staff Concludes Visit to the Federated States of Micronesia
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion. An International Monetary […]
FSM & World Bank Partner to Improve Electrical Reliability, Access, & Efficiency
PALIKIR, Pohnpei—The 20th Congress of the Federated States of Micronesia (FSM) completed its sixth regular session and among the good news in their recent work for the benefit of our Nation was Congressional Resolution 20-162 wherein the FSM has acquired SDR 21,600,000 which is just over $30,000,000 USD from the World Bank for, the Resolution […]
FSM & Asia Development Bank Plan Closer Partnership
PALIKIR, Pohnpei—Honorable Yosiwo P. George, Vice President of the Federated States of Micronesia (FSM), met with the Honorable Anthony McDonald, Executive Director for Asian Development Bank (ADB). The meeting discussed Strategy 2030 (ADB’s strategic plan and objectives to be met by that year) and how ADB and FSM can expand their partnership. “One of the […]
World Bank Vice President (EAP) visits the FSM
The World Bank Regional Vice President for East Asia and the Pacific region, Ms. Victoria Kwakwa has just completed her first visit to the FSM. Her visit included Pohnpei State from December 1 – 4 and Chuuk State from December 4-6, 2018. This is the first time such a senior official has visited the FSM andunderscores […]
Vice President World Bank Visit
Welcome to the Department of Finance & Administration (DOFA) Website. I hope you find this site useful and we appreciate any feedback that could lead to improvements in the site. DOFA is the key Department in the FSM responsible for policy and strategic advice, as well as financial services for the Government. DOFA consists of five […]
Exchange of Information on Request (EOIR)
The FSM considers that illegal tax evasion is a serious and global problem,and effective international measures to exchange information for tax purposes is necessary to prevent tax fraud, money laundering, and financing of terrorism. It is the policy of the Federated States of Micronesia to implement international standards for transparency and exchange of tax information. […]
Pacific Regional Oceanscape Program FSM (PROP: 2015 – 2020)
The development objective of the project is to strengthen the management of oceanic and coastal fisheries and the habitats upon which they depend, and specifically to strengthen the National Oceanic Resource Management Agency (NORMA) responsible for the management of oceanic fisheries. NEW PUBLICATION – ENVIRONMENTAL & SOCIAL MANAGEMENT FRAMEWORK “The purpose of this “Environmental and […]
FSM Project for Improving Performance in Public Financial Management (PAFiM)
The proposed development objective of the project is to build capacity of the National and four State Governments of the FSM to improve reliability and timeliness of financial reporting that can support informed decision-making. The proposed activities include: The World Bank’s environmental and social safeguard policies are a cornerstone of its support to sustainable poverty reduction. […]