Kilili working to get NMI's $89 million loan forgiven
WASHINGTON, D.C. (Office of the CNMI Congressional Delegate) — U.S. Congressman Gregorio Kilili Camacho Sablan was able to pass legislation last year, immediately making the Commonwealth eligible for an $88.7 million operations loan from the Federal Emergency Management Agency. Now, he is working to have that loan completely forgiven with language included in the fiscal 2022 Homeland Security spending bill approved by the Appropriations Committee.
“Governor Torres met with me in May 2020 and asked for changes in the community disaster loan law, so the Commonwealth would qualify to borrow up to $90 million for operations costs.
“I was able to include the necessary changes in the fiscal 2021 omnibus appropriation in December; and the Governor immediately borrowed $88,734,930 from the federal government,” Sablan said.
“Given how shaky the island economy is right now, however, I do not want the people of the Commonwealth saddled with so much debt. So, I am working to make sure the debt is forgiven,” the Congressman said.
https://mvariety.com/news/kilili-working-to-get-nmi-s-89-million-loan-forgiven/article_0975d06e-e4fc-11eb-b874-5f41980449a6.html
(Marianas Variety)