Senators vote to send $1M to non-Guam businesses
By Eric Rosario
Ten senators voted to send $1 million of your money to the Pacific Islands Development Bank next fiscal year.
Sen. Jim Moylan tried to strike the appropriation from the Fiscal Year 2021 budget, but only four other senators - Louise Muna, Sabina Perez, Telo Taitague, and Therese Terlaje - voted with him.
The PIDB is a bank consortium, which funds loans to businesses throughout Micronesia.
Speaker Tina Muna Barnes admitted to senators that several Guam businesses that applied for funding through the PIDB were denied loans, despite the fact that Guam pays the most into the bank.
Mr. Moylan said the funding would best be suited to funding public safety and health agencies, which are desperately underfunded. Ten of his colleagues disagreed with him.
