The FSM makes its initial $30M contribution to the Compact Trust Fund.

What happened

The trust fund was meant to give the FSM income after Compact grants ended in 2023, and US deposits depended on this first payment, made a day after the deadline. US yearly deposits started at $16 million and rose as grants fell. In 2008 the US Government Accountability Office (GAO) warned the fund might not be enough to replace the grants.