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Thursday, April 24, 2014

USDA RD invests over $350K in FSM in FY 2013

KOLONIA, Pohnpei—In fiscal year 2013, USDA Rural Development invested over $350,000 in various projects across the Federated States of Micronesia. These funds were targeted toward home repair/rehabilitation and community facilities and equipment. Program delivery occurred in each of the FSM’s four states of Chuuk, Kosrae, Pohnpei and Yap.

Rural Development’s investment includes $306,664 in low interest (1 percent) fixed-rate loans and grants that helped 31 very-low-income families complete much needed repairs to dilapidated homes, remove existing health and safety hazards, and make them accessible to occupants with physical disabilities. It also includes $45,937 in assistance for community projects that increase public safety, enhance environmental quality, and safeguard public health.

“Families in small, rural communities deserve access to decent, livable housing, a safe and clean living environment, and basic health services.  I am extremely pleased that through the efforts of our local Rural Development staff, we were able to improve the quality of life for many families in all four FSM states,” said Chris Kanazawa, Rural Development State Director for Hawaii, Western Pacific, and American Samoa. “As a priority of President Obama and Secretary Vilsack, Rural Development strives to provide the needed assistance to raise the standard of living for lower income families. This will ultimately result in stronger communities across the FSM.”

These investments were made available through Rural Development’s Single Family Housing Renovation (504) Loan and Grant Programs and Community Facilities Programs.

“In FY 2014, Rural Development continues its mission in the FSM of improving the improving the standard of living for Micronesia’s residents by elevating the quality of life for local homeowners and communities while creating economic opportunities for local businesses as a multiplier effect of our projects,” remarked Gary Bloom, Area III (FSM) Director.

USDA, through its Rural Development mission area, administers and manages housing, business and community infrastructure programs through a national network of state and local offices. Rural Development has an active portfolio of more than $172 billion in loans and loan guarantees. These programs are designed to improve the economic stability of rural communities, businesses, residents, farmers and ranchers and improve the quality of life in rural America. (USDA)

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