Home News Local news $5.4 MILLION IN NEW FEDERAL FUNDING EXPECTED

$5.4 MILLION IN NEW FEDERAL FUNDING EXPECTED

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Congress is expected to approve $5.4 million in new money for capital projects in the Virgin Islands shortly at President' Clinton's request, according to the director of the federal Office of Insular Affairs.
Just a few months ago, Insular Affairs director Danny Aranza noted, the President approved an OIA proposal to give the territory more than $16 million in emergency funds to help the local government deal with Year 2000 computer conversion problems.
A "substantial amount of new federal funding has been approved" for the territory this year, Aranza said. He said the $5.4 million is "to help the local government continue its efforts to stimulate the local economy."
An Office of Insular Affairs press release announcing the anticipated approval of the new funding noted that "the Virgin Islands is fighting to overcome massive government debt, a depressed economy and a series of devastating storms including the aftermath of Hurricane Lenny this past week."
Aranza said his office will ask Congress to give the territory another $10 million in new funding in next year's federal budget. "While there is never a guarantee of success in these matters," he said, "the Clinton administration is very serious about working closely with the governor and the congressional delegate to help them deal with the current fiscal crisis."

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