Prime Minister gives update on trip to the Netherlands
Prime Minister Silveria Jacobs provided several updates during an interview yesterday regarding her travel to the Netherlands for a high level meeting about the remaining balance in the St. Maarten Trust Fund. The Minister of Finance Ardwell Irion along with National Recovery Project Bureau (NRPB) representatives and St. Maarten Steering Committee member Marcel Gumbs joined Minister Jacobs in the meeting with the World Bank representatives.
They discussed the prioritization of the remaining balance in the Trust Fund. The Prime Minister also announced positive news that St. Maarten actually has $120 million dollars remaining opposed to $100 million.
St. Maarten finalized its prioritizations for the funds on June 16th in order to prepare for the discussion. There is an agreement to be signed by the parties involved on July 14 and details are being worked out until then. Of the remaining amount, extra funding has been earmarked for the airport and the dump project along with other small important projects. The amount is yet to be determined. She also confirmed that the NAF 39 million fifth liquidity payment has been issued and awaiting confirmation on the signature of the Minister of Finance for the funds to be transferred from the Central Bank to government's account.
The Trust Fund was orchestrated as a response to the damage caused by Hurricane Irma in 2017 with up to $550 million dollars that has a deadline to be spent until 2025. It is financed by the Government of the Netherlands and administered by the World Bank. The NRPB is the implementing partner in this arrangement.
