The administration of American President Joe Biden plans to allocate over $7 billion to fund three Pacific island nations with which the United States maintains economic and defense ties, according to Financial Times. The spokeswoman for the State Department, Jane Bocklage, stated that President Biden’s budget request for the fiscal year 2024 includes funding of $7.1 billion for the Marshall Islands, Palau, and the Federated States of Micronesia. Bocklage said that Washington is working to finalize negotiations with the three island nations regarding the extension of the Compact of Free Associ…