PHILIPSBURG:---The Prime Minister of Sint Maarten Hon. Silveria Jacobs in the House of Parliament on Wednesday provided information to Members of Parliament (MPs) during the parliamentary session that is handling the draft 2022 national budget about the Trust Fund portfolio which comprises ten (10) projects that are currently in implementation as well as three (3) projects under preparation.
The prime minister stated that the Government of Sint Maarten has strategically prioritized these projects geared at recovery, reconstruction, and building resilience of the countrys institutions.
In 2018, the Government of the Netherlands committed an amount of US$554 million to the Trust Fund program, which was aimed at The recovery and reconstruction of Sint Maarten following the devastation caused by the September 2017 Atlantic hurricanes; and
Strengthening the countrys resilience to future natural disasters.
The Government of the Netherlands had previously transferred US$515.35 million to the World Bank and in December 2021, the Netherlands transferred the final tranche of US$139 million.
As a summary of the Trust Fund projects, the prime minister informed the MPs as follows:
US$515.36 million has been transferred to the Trust Fund, this amounts to the total to be transferred figures. 10 projects are under implementation for US$311.3 million, of which US$146.3 million has been disbursed to date, and US$122.2 million spent.
For the overview of the Trust Fund program, the prime minister added:
That the Investment income to date is approximately US$13.7 million, which reflows to the Trust Fund for projects.At this moment the entire Trust Fund has been allocated to existing or future projects by the Steering Committee.
The final remaining finances of the Trust Fund have been allotted by the Steering Committee in July 2021 Read more
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