Trust Fund Committee Conducts Second Quarter Meeting, 3/26/18

The Trust Fund Committee of the Trust Fund for the
People of the Federated States of Micronesia (the Fund) conducted its fiscal year 2017 second quarter
meetings on March 26th in San Francisco.

The meeting included an update of the Fund’s investments for the October-December 2017 quarter and updates to March. Other agendas items included a presentation of the fiscal year 2017 Audited Financial Statements and Annual Report. The documents were approved to be sent to the member governments of the Federated States of Micronesia and the United States. The Committee also discussed the distribution policy of the Fund for the post fiscal year 2023 time period when distributions from the Fund are scheduled to begin.

The Committee members represent the governments of the Federated States of Micronesia and the
United States. The next quarterly meeting is scheduled to take place in May 2018.
As of September 30, 2017, assets of the Trust Fund for the People of the Federated States of
Micronesia were valued at $564,970,738.

As provided for under the Compact of Free Association agreements, as amended (U.S. Public Law
108-188), the Trust Fund was established to contribute to the economic advancement and long-term
budgetary self-reliance of the people of the Federated States of Micronesia when annual grant
assistance under the Compact expires after fiscal year 2023.
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