The American Samoa Telecommunications Authority is requesting a loan from the Retirement Fund.
Responding to KHJ News questions Chairman of the Board of Trustees of the Retirement Fund Vaanatiu Toafala Iafeta said it’s true, the Retirement Fund recently received a loan request from ASTCA board chairman Roy JD Hall Jr.
He said ASTCA is seeking a $4.7 million loan.
Vaanatiu told KHJ News that the Retirement Fund Board has asked for additional information from ASTCA, mainly relating to finances, and assets before it renders a decision on the loan request.
It was revealed at Senate hearings last week that ASG Treasury had to make loan payments for ASG loans from the Retirement Fund for the hospital because ASTCA came up short due to revenue shortfalls.
