Report: Japan to allot $420M for infrastructure - KUAM.com-KUAM News: On Air. Online. On Demand.

Report: Japan to allot $420M for infrastructure

by Mindy Aguon

Guam - The Daily Yomiuri Online is reporting that Japan's government plans to earmark $420 million in the Fiscal Year 2011 budget to finance infrastructure development in Guam. The article reports that due to disagreement between Japan and the United States over how the loans would be repaid, no concrete plans for the infrastructure projects have materialized. 

While the Consolidated Commission on Utilities has been adamant that ratepayers not have to be forced to pay that loan back, the report states that the two nations have agreed at least in principle that the U.S. side would use money made from charging infrastructure users, including the marines and residents to pay back the loans.

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