INVESTMENT OPPORTUNITY
Federated States of Micronesia
ULITHI ADVENTURE RESORT
The Federated States of Micronesia Development Bank offers a unique investment opportunity to lease and operate a secluded private hotel and restaurant business on Ulithi Atoll, Federated States of Micronesia. The business includes a 10 room furnished oceanfront hotel and restaurant that has been in operation since 1998. Scuba diving and fishing are prime watersports that may be enjoyed within and outside Ulithi Lagoon.
The resort is situated on Falalop Island of Ulithi Atoll at Latitude 10°01’00”N and Longitude 139°48’00”E, approximately 171 km (106 miles) northeast of Yap Island. The resort is minutes away from Ulithi Airport (ULI), with flights arriving and returning on Mondays and Fridays from Yap Island, a short 45 minute flight over stunning blue ocean. Continental Airlines provides flights to Yap Islands through Guam with convenient connections from Asia or North America.
Ulithi Atoll is comprised of approximately 40 islets circling the fourth largest lagoon in the world. The lagoon is about 36 km (22 mi) long and up to 24 km (15 mi) wide, with a total area of 548 km2 (212 sq mi). Total land area of Ulithi atoll is 2.6 square km (1.75 sq m), with 4 populated islets.
During World War II, Ulithi Lagoon served as a major base and staging area for the United States Navy. The wreck of the US Mississinewa (AO-59), sunk in Ulithi Lagoon by a Japanese manned Kaiten torpedo in October 1944, was discovered in April 2001.
The population of Ulithi Atoll is less than 800 persons, living mostly a traditional subsistence lifestyle and providing an accessible labor pool. Temperatures are consistent, averaging around 30 C (85 F) year-round. Humidity ranges from 65 to 100 percent, and the Ulithi Atoll islets get about 300 cm (120 inches) of rainfall a year mostly from June through August. The water temperature ranges from 27 to 30 C (82 F to 86 F) with excellent visibility. Electricity is United States standard: 110 volts, 60 cycles. United States currency is used. Supplies to Ulithi Atoll are provided by air and cargo ship service.
A long term lease for the resort property is available through December 2038.
For more information, contact FSM Development Bank, Nora E Sigrah at email: noras@fsmdb.fm, phone: [691] 320-2840, fax [691] 320-6533, website: www.fsmdb.fm
FEDERATED STATES OF MICRONESIA
DEVELOPMENT BANK
PO Box M
Pohnpei, FSM 96941
Public Announcement
THE FSM DEVELOPMENT BANK (FSMDB) OFFERS HOME LOANS
The FSM Development Bank is pleased to announce to the general public that the Bank now offers Home Loans. The bank is now accepting application for two types of programs:
- United States Department of Agriculture Rural Development (RD) Home Loan Program. Under this program, the FSMDB shall serve as a guarantor on all loans that will be approved and shall also facilitate the application process. There are two types of loans available under this program:
- Direct RD Loan
- Home Loan Partnership Program – available in Pohnpei Only
- Direct Home Loans. This is an FSMDB funded loan program. This loan program is mainly to finance the construction of primary residential homes and can be used for the following purposes:
- Construction of a new home
- Purchase of a home
- Home improvement (renovations)
For eligibility and details on the Housing Loan Programs briefly described above, please contact Stevenson Joseph or Yoster Johnny @ telephone number 320-5300 or e-mail(s): stevej@fsmdb.fm or yosterj@fsmdb.fm. Or you may contact your local FSMDB Branch office as follows:
