Hagåtña, Guam – With their goal to provide continued support for Guam’s pandemic response and recovery, Governor Lou Leon Guerrero and Lieutenant Governor Josh Tenorio announce the receipt of Guam’s allocation of $553 million in Coronavirus State Fiscal Recovery Funds from the American Rescue Plan Act of 2021. Funds were received by the Department of Administration on Friday.
These funds are part of the U.S. Treasury’s allocation to Guam of the $4.5 billion appropriated to territories. Separate allocations of amounts appropriated to counties, non-entitlement units (non-metropolitan governments), and amounts allocated from the Capital Projects Fund have yet to be disbursed. In total, Guam expects to receive $604 million.
“This pandemic has undoubtedly tested us. But as a people, like many times before, we stood together. This crisis has not only revealed our weaknesses, but it reaffirmed our strengths. Now, it is time to invest in a recovery that leaves no one behind,” said Governor Leon Guerrero. “Soon, we will be unveiling an investment road map that benefits everyone and rebuilds a stronger Guam.”
Last week, the U.S. Treasury released the Interim Final Rule that provided details of the eligible uses that address the effects of the COVID-19 public health emergency.
“We continue to examine the interim guidance that will likely change after the comment period ends and feedback is incorporated into the final guidance. Meanwhile, we are assessing our local aid programs to build upon, such as the Guam Small Business Pandemic Grant Program and the Small Business Rent Assistance Grant Program,” stated Governor Leon Guerrero. “We are considering expanding other existing programs to help more people and creating new ones to provide additional aid and improve public services.”
Lt. Governor Josh Tenorio stated, “Guam’s improved fiscal outlook now provides us with a stable foundation onto which we can rebuild a thriving economy. These funds will be dedicated to our long-term growth in order to realize the prosperous future we all envision. Our investment road map will provide continued confidence that we will come out of this pandemic better and stronger than ever before.”
More information will be announced next week.