Toribiong told reporters that correspondence from the United States government stated that the signing ceremony will take place on that day.
The president however does not know whether it will be held in Palau or the U.S.
He said though that Palau has an outstanding request to the U.S. to hold the signing here.
Palau accepted the $250 million Compact of Free Association funding package offered by the U.S.
The next hurdle is to get the aid package approved by U.S. Congress.
The $250 million packageincludes subsidy for the U.S. Postal Service, the funding provided to Palau in the Fiscal Year 2010 and resources earmarked for annual contributions to the infrastructure as maintenance matching fund.
The package includes the $22 million postal service for Palau, Republic of the Marshall Islands and Federated States of Micronesia. From the funding, Palau will only be left with $4 million while $18 million will go to the two Freely Associated States.
The package also includes the FY2010 funding which was previously granted amounting to about $13 million.
Palau will have another opportunity to review the Compact after year 2024.
Palau is confident that at the time the Compact funds will have performed well enough to sustain Palau’s economy.
