Under the Covenant to establish a Commonwealth of the northern Mariana islands in Political union with the united states of America (U.S. Public law 94-241), the people of the northern Mariana islands (NMI) and the united states of America desire to improve their beneficial relationship, and to develop the economic resources referenced in the first section 701 Covenant funding needed to meet the fiscal responsibilities of self-government in the NMI.
On July 10, 1985, in accordance with U.S. Public law 99-396, the NMI and the Department of the interior entered into a special representatives agreement for the second seven-year period of guaranteed annual direct grant assistance for the northern Mariana islands. Section 3(f) of the agreement provides that the Government of the northern Mariana islands shall ensure the continued administration of capital development funds by an autonomous public agency of the Northern Mariana Islands. Such administration shall include the coordination and approval of all public financing of capital improvement projects and economic development activities.
On September 18, 1985, the Commonwealth Development Authority (CDA) was established by
Public law 4-49 also known as the “CDA Act”
Over 30 Years of Continuous Service to the People of the Commonwealth
CDA has proven itself to be a respected developmental financial institution.
Providing financial assistance to many investors that had special needs that could not be met through the commercial banking industry.
MISSION STATEMENT
We provide appropriate financial and technical assistance to facilitate the start-up or expansion of private and public enterprise for their success, the benefit of the Commonwealth’s economic welfare and the long term sustainability of the CDA.
OUR VISION
To revitalize and reposition CDA to perform its mission and achieve an overall vision of economic development for the Commonwealth.
GUIDING PRINCIPLES
We perform our mission in a courteous, professional, accountable, prudent, efficient and independent manner.