PHILIPSBURG:— Minister of VSA Emil Lee said on Wednesday that he is still working diligently on obtaining finance for the construction of the New General Hospital. The Minister said that his hope is SZV and APS are the ones that will finance the New General Hospital. He said the two entities are ensuring that they conduct due diligence before signing off on the financing. The Minister was asked if he eliminated local banks since he has said in the past that local banks are an option for financing. The Minister said that he eliminated local banks because the banks wanted to be repaid in a shorter period of time which is not feasible for the management SMMC. Asked if there is a business plan in place for the New General Hospital Project, the Minister said there is a business plan in place which was approved by SOAB since APS requested SOAB to test the business plan. He further explained that SOAB even conducted a stress test to see if the business plan they submitted would work.
He said that the drawings of the New General Hospital are in its completion phase and that by the next two weeks the application for building permits will be submitted the department of VROMI.
SMN News learned that APS is treading carefully with the financing of the New General Hospital especially since they were cautioned by the CFT not to jeopardize the pension fund.
Source: St. Martin News Network
Minister of VSA still trying to get financing of New General Hospital.