Is MARAD excluding Port in loan talks? - KUAM.com-KUAM News: On Air. Online. On Demand.

Is MARAD excluding Port in loan talks?

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by Sabrina Salas Matanane

Guam - Senator Tom Ada, who has oversight over the Port Authority of Guam, has fired off a letter to the U.S. Department of Transportation Maritime Administration regarding the USDA loan to the PAG for its modernization program. According to Ada, it appears MARAD is excluding the port in discussions with respect to the disbursement of its loan with the USDA.

He wrote, "What really puts a distasteful spin to this is that MARAD in pursuit of wanting to take control of these funds is having its own meetings with the USDA trying to persuade them to deposit these USDA loan funds into an account that MARAD will manage and to me that is kind of an arrangement is almost a receivership situation."

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