Chris Johnson, Head of the Dutch Representation Office on St. Maarten presented Prime Minister Leona Marlin-Romeo with a copy of the final version of the “Trust Fund” agreement on behalf of the Dutch Ministry of the Interior and Kingdom Relations.
The agreement to administrate Hurricane Irma recovery funds will be signed on April 16 in Washington D.C. by the Netherlands and the World Bank. Romeo-Marlin and Finance Minister Mike Ferrier will be witnesses. The next step will be to set up a steering committee of three persons, one each appointed by the Netherlands, World Bank, and St. Maarten, to approve proposed projects. The Netherlands has reserved 550 million euros for the rebuilding of which 470 million euros will be in the trust fund. The fund will be accessible until 2025. St. Maarten is developing projects to be financed by the first tranche of funds. St. Maarten with World Bank’s assistance is working to complete the National Recovery and Resilience Plan (NRRP), a guideline on recovery priorities.
