The Commonwealth Development Authority (CDA), formerly known as the Economic Development Loan Fund, was established as an autonomous public agency in 1985 through Public Law 4-49. The Authority's functions are carried out through the Development Banking Division (DBD) and the Development Corporation Division (DCD). The Banking Division generally engages in government and public sector activities while the Corporation Division engages in private sector activities. CDA's purpose is to stimulate economic development in the Northern Mariana Islands.

CDA's mission is to provide economic loan funds to private and public sectors for economic development. CDA achieves this mission in the following ways:

  1. By providing aid for the financing of capital improvement projects undertaken by the Commonwealth and its autonomous agencies, the DBD:

    • Acts as the financial Advisor to all government agencies and concurs on all public debts of the Commonwealth.
    • Aims to increase the capital market-funding base for government and public capital improvement through bond floatation. CDA works with qualified government agencies to secure bonds for vital projects. Bond issuance enables the CNMI to move forward with important infrastructure projects and, at the same time, boosts the construction industry.
    • Pursues financing sources to expand its base for direct loans and technical assistance to the government for its current and future programs. CDA has funded numerous economic summits and tourism related surveys.

  2. By serving as the Northern Marianas development bank as indicated by Article XI, Section 6 (c) of the Constitution, the DCD:

    • Restructures debts and provides loan guarantees through private lending institutions to provide funding for new and on-going development projects. CDA is prepared to provide financial assistance to local banks through its Loan Guaranty Program.
    • Supports marine, agricultural and commercial activities through its loan programs. The Authority also provides technical assistance and training in these industries.
    • Offers technical assistance to existing businesses, thereby ensuring that clients are equipped with information and skills to cope with dramatic economic shifts.
    • Continues to assess means of improving business and investment activities for the islands.

CDA has three offices to serve you. Its main office is located at the Wakin's Building in Gualo Rai, Saipan. The Tinian Office is in the King's Plaza, San Jose Village and the Rota Office in the Tamara & Seven Brothers Building, Songsong Village.

© 1999 all rights reserved CDA, P.O. Box 502149, Saipan MP 96950
Tel: 670.234.6245 | Fax: 670.235.7147 | Email:

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