WILLIAMSBURG/ PHILIPSBURG:— Sint Maarten, Curaçao, and Aruba have signed the loan agreement to refinance the Covid loans. The Netherlands agreed to refinance the loans worth €1.17 billion, as it was known that the Countries would not be able to repay them at once. The loans were needed during the COVID pandemic because the Countries themselves had insufficient financial buffers to cope with the negative consequences of COVID-19 and needed to be supported in doing so.
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