POND ISLAND–Government has not rejected any offer of financing from the Dutch government and the European Investment Bank for the reconstruction of Princess Juliana International Airport terminal, rather airport management has been instructed by Prime Minister Leona Romeo-Marlin to give a breakdown of the conditions that would come with such a loan.
The prime minister has asked the board to outline by January 4, 2019, all the conditions requested by the World Bank/the Dutch government alongside that of Pipper Jaffray and Co., a company being looked at as a possible financier.
According to people close to the issue, the prime minister has informed the Council of Ministers that she has reservations about the selection of an option for the capital financing for the airport reconstruction without a proper review of both offers. Airport shareholder’s representative Tourism and Economic Affairs Minister Stuart Johnson is also of the same stance as the prime minister.
The prime minister is said to have told the Council of Ministers that she’s “strongly proposing” a decision about financing is not taken until the terms of both financial entities are fully known. She also wants this stance to be made very clear to the Dutch government.
The latter comments tied into statements made by Dutch State Secretary Raymond Knops in a letter to the Second Chamber of the Dutch Parliament on Tuesday. In that letter, Knops said, “The St. Maarten government is seemingly not cooperating fully with this solution and in the meantime has had talks with other interested financiers.”
Knops also pointed out there is a ready-to-be-executed plan for the airport which was approved by the Steering Committee of the Trust Fund on November 5, 2018. The Steering Group did set a number of conditions that had to do with the integrity of positions in the airport’s management and supervisory board (see related story).
It is understood that the acquiring of a management position is among the conditions from the Dutch government for financing the airport project.
The Airport Terminal Reconstruction Project, estimated amount US $50 million, aims to support the reconstruction of the airport terminal as proposed under the Reconstruction Plan prepared by Princess Juliana International Airport Operating Company (PJIAE).
Source: The Daily Herald https://www.thedailyherald.sx/islands/83781-govt-wants-conditions-of-airport-loan-before-taking-any-decision
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