October 25, 2023 -PHILIPSBURG, Sint Maarten— The Central Bank of Curaçao and Sint Maarten announces the issuance of a significant NAF 60,854,000 bond to Sint Maarten over a 20-year period. Leveraging the current Dutch yield curve, with an interest rate of 3.418% as of October 19, this financing represents a crucial milestone in the country’s developmental journey.
The Ministry of Finance has been working diligently to execute this critical step by providing a transparent explanation of the various local investments, the future impact on budgets, and the underlying value of the investments being made. These funds will now empower Sint Maarten to undertake essential initiatives, including but not limited to:
- Renovation of various Sports Facilities
- Expansion and reconstruction of the John Larmonie Center and the Philipsburg Cultural and Community Center
- Completion of the Prins Willem Alexander School
- Hard surfacing of various dirt and main roads
- Dutch Quarter road development program
- Expansion of the sewage network, co-financed by the Trust Fund and the Netherlands.
- Improved software & hardware for various departments within Government.
Notably, this marks the first such infusion into Sint Maarten’s infrastructure since 2014, highlighting the commitment to strengthen the nation’s long-term prosperity.
“The bond issuance is a testament to our unwavering dedication to Sint Maarten’s growth and development,” stated the Minister of Finance. “With these funds, we aim to enhance the quality of life for our citizens, foster community engagement, and lay the foundation for a sustainable and resilient future.”
This development signals a renewed era of progress and prosperity for Sint Maarten, reaffirming the nation’s resilience and determination to build a brighter tomorrow.