TAIWAN RELEASES $17.2 MILLION RSCD FUNDS

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    The Prime Minister, Hon Sogavare and the ROC Ambassador, His Excellency Yu show the documents for the transfer of the SBD$17.2-Million RSCD Funds.

    The Government of the Republic of China on Taiwan has formally released the third tranche of the 2015 ROC Support Constituency Development (RSCD) funds totalling $17.2 Million dollar to 44 constituencies.

    Taiwan Ambassador to Solomon Islands His Excellency Victor Te-Sun Yu handed over the disbursement instruments of the funds to the Prime Minister Hon Manasseh Sogavare this afternoon.

    Ambassador Yu said the funds are being wired to the account of the Central Bank of Solomon Islands at Federal Reserve Bank of New York today.

    Of the total funds, $16 million is for 40 constituencies while the remaining $1.2 million caters for remaining tranches of the 2015 RSCD for four constituencies.

    This includes SBD $300,000.00 of the RSCD for one remaining Constituencies and the second tranche of the funds for another 3 constituencies worth SBD$9000, 000.00

    The surrender of acquittals to the Ministry of Rural Development which administers the funds is now the pre-requisite for the MPs to take delivery of their RSCD funds.

    Meanwhile, Ambassador Yu was pleased to note the great improvement in the retirement of acquittals by individual constituencies this year compared to the past years and therefor register his great appreciation for this improvement by the constituencies.

    He said the great improvement in the acquittal submission can also be an indication that the Members of Parliament (MPs) are also utilising the funds for tangible developments in the constituencies.

    His Excellency Yu adds his country is prepared to continue to be partners in investment in the Solomon Islands rural sector.

    The Prime Minister, Hon Manasseh Sogavare expresses gratitude to the Taiwanese Government for its continuous assistance towards the development of Solomon Islands.​