THE Commonwealth Development Authority has denied the $100,000 loan application of Marianas Visitors Authority.
MVA wanted to use the money for island beautification projects.
“The board decided not to approve it because we can’t give any more budget for operations. We can’t do that right now,” CDA Chairman Juan S. Tenorio said in an interview.
MVA filed the loan last month for the construction and improvement of median roads on Saipan.
“We need it for our beautification campaign,” acting MVA Managing Director Vicky I. Benavente said in an interview.
The loan application had been discussed by CDA board officials in a meeting last Tuesday.
With the rejection of the loan application, MVA is now banking on the release of a $1 million grant from the Marianas Public Lands Authority.
“We’re now finalizing the agreement with MPLA. We’re expecting to receive the fund within the month. We need the money immediately to be able to start the government’s massive marketing promotion overseas,” said Rep. Frank DLG. Aldan, R-Saipan and chairman of the House Tourism Committee.
He said the $1 million budget would be the initial grant from MPLA. Total grant request amounts to $2.7 million.
According to Aldan, the funding is needed to meet MVA’s target of additional 100,000 tourists by the end of December.
“This is part of the special campaign as recommended by the tourism strategic committee,” he said.
Under the plan, marketing promotion would focus on Japan, Korea and Hong Kong.
Out of the $1 million funding, $600,000 would be used to attract tourists from Japan, $200,000 from South Korea and $200,000 from Hong Kong.
