A $USD60 million payment to the Forum Fisheries Agency will be allocated to member countries.
FFA Director General Noan Pakop confirmed the money had been received under the Economic Assistance Agreement associated with the US Tuna Treaty.
Earlier, the US announced the release of the payment, which will be allocated according to an agreed distribution approach.
“This is a positive and welcome development, and a clear demonstration of the US Government’s commitment to the EAA, the Treaty, and its cordial relationship with Pacific Island States,” Pakop said.
“We are confident that this initial payment will pave the way for the approval of the 2025 payment and future payments under the EAA.”
The treaty entered force in 1988 involving fishing in the Exclusive Economic Zones of the Pacific Island Parties by US purse seine fishing vessels. Over the years, its terms and conditions, and final packages have been periodically renegotiated.
The latest renegotiation was concluded in June 2024, extending the Treaty for 10 years.