Trust Fund Committee Conducts First Quarter FY 2024 Meeting – Reviews trust fund performance, discusses interim fiscal procedures, prepares for future implementation of 2023 Trust Fund Agreement once it enters into force

WASHINGTON, D.C. (December 4, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its Fiscal Year 2024 (FY24) first quarter meeting on November 29 in Honolulu, Hawaii. The Trust Fund Committee Members reviewed the Fund’s investment performance from July-October 30, 2023, reviewed the beginning of the FY23 audit, and discussed the timing, status, and fiscal procedures related to the Fund’s previously approved distribution. The Committee also had preliminary discussions regarding future administrative structures and functions to facilitate future implementation of the 2023 Trust Fund Agreement, which would enter into force after legislative...

Trust Fund Committee Conducts Business Meeting to Approve Fiscal Year 2024 Distribution to the Government of the Republic of the Marshall Islands

WASHINGTON, D.C. (October 4, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted a business meeting on September 28 (EDT) and 29 (Majuro) via teleconference. The Trust Fund Committee Members approved a distribution from the Fund to the Republic of the Marshall Islands (RMI) government for fiscal year 2024 and discussed distribution monitoring, reporting and review. The Committee approved a resolution to distribute a total of $19,405,982 to the RMI government consisting of $10,317,619 for the education sector, $8,530,797 for the health sector and $557,566 for infrastructure management. The funds will be...

Trust Fund Committee Conducts Fourth Quarter FY23 Meeting to Review Trust Fund Performance and Conduct Other Business

WASHINGTON, D.C. (September 12, 2023)– The Trust Fund Committee of the Trust Fund for the People of the Republic of the Marshall Islands (the Fund) conducted its Fiscal Year 2023 (FY23) fourth quarter meeting on August 31 (EDT) and September 1 (Majuro) via teleconference. The Trust Fund Committee Members reviewed the Fund’s investment performance from April to July 31, 2023, approved service agreements for annual accounting and audit services, reviewed and approved the FY24 investment and administrative expense budget, and discussed and approved possible Committee actions for FY24. For the April-June quarter, the Fund’s increased 3.88%, net of fees, (benchmark 4.28%) with a total net...

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