Project ID: 41946

China grants $1 million USD for the Federated States of Micronesia Trust Fund in 2007

Commitment amount

$ 1799264.3828840998

Adjusted commitment amount

$ 1799264.38

Constant 2021 USD

Summary

Funding agency [Type]

China Ministry of Commerce [Government Agency]

Recipient

Micronesia

Sector

Banking and financial services (Code: 240)

Flow type

Grant

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2007-12-20

Actual start

2007-12-20

Actual complete

2008-03-11

Description

On December 20, 2007 during the Micronesian president's official visit to Beijing, the Chinese Vice Minister of Commerce signed an exchange of letters granting $1 million USD to Micronesia for their national trust fund. The financing transferred and accredited to the FSM National Government savings account with the Bank of FSM on March 11, 2008. During the same visit in December 2007, an additional economic and technical cooperation agreement was signed between the two countries (ETCA #40012). This $1 million USD donation is different from a basically identical donation in 2010.

Number of official sources

6

Number of total sources

8

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Trust Fund of the Federal States of Micronesia [Government Agency]