17 Jan 2008

American Samoa House of Representatives to meet on Friday

12:10 pm on 17 January 2008

The American Samoa House of Representatives will hold on Friday a hearing to discuss the government's $20 million US dollar loan from the ASG Retirement Fund enacted into law last year.

The hearing came after Representative Archie Soliai questioned the status of the loan, after House members received copies of the governor's letter detailing priority projects to be funded by the loan yesterday.

Soliai said he has heard reports that $15 million of the $20 million has been invested off island.

He said he wants to find out whether the projects listed in the governor's letter are what was earmarked for the loan.

The former government Treasurer Velega Savali was quoted this week on KHJ radio saying that he believes the reason he was terminated by the governor was because he moved to invest $15 million off-island - however, the investment didn't go through.

Soliai is quoted by the Samoa News as saying the fiber optic cable project has been projected to receive $3 million from the loan, but the Lee Auditorium project, which is set to receive $500,000 is not.