This Act provides for the establishment of the Commonwealth Development Authority, defines its functions and powers and internal organization. The functions of the Commonwealth Development Authority shall be carried out through a Development Banking Division and a Development Corporation Division. The purpose of the Authority is to stimulate the economic development of the Northern Mariana Islands. The principal purpose of the Development Banking Division of the Authority shall be the financial and technical support in the financing of capital improvement projects and other projects undertaken by the Commonwealth and its autonomous pub1ic agencies. The main purpose of the Development Corporation Division of the Authority shall be: to identify, formulate, initiate, stimulate and facilitate business and commercial enterprises, with special emphasis on agricultural and marine resources.
Islas Marianas Sept. (EUA) · 1985-05-31