Silveria Jacobs
PHILIPSBURG–Government is expected to sign an agreement related to the financing of the reconstruction of Princess Juliana International Airport (PJIA) as early as next week, Prime Minister Silveria Jacobs said on Wednesday.
She told reporters that with the passing of the motion in Parliament on Monday, “we can expect to sign the agreements as early as the beginning of next week. I’m looking to make arrangements to sign agreements with the World Bank next week in Washington DC. We need to get the airport back up and running, and we need to start now.”
Members of Parliament (MPs) on Monday unanimously passed a motion regarding government signing legal agreements in relation to the airport reconstruction. The passing of the motion permits Minister of Finance Ardwell Irion to finalise the signing of an agreement with PJIA’s bondholders allowing for the immediate release of US $5 million in insurance proceeds to be able to begin the airport reconstruction.
“I am pleased with the manner in which the debate was concluded. There is now a clear path forward,” Jacobs said, noting that the motion has since been sent to all stakeholders.
Five agreements still need to be signed by the Government of St. Maarten: the agreement with the bondholders, which will signed by the Government of St. Maarten, the bondholders and the airport operating company PJIAE; the agreement with the European Investment Bank (EIB), which will be signed by the Government of St. Maarten, the bondholders and PJIAE; the agreement with the World Bank which will be signed by the Government of St. Maarten and the World Bank; the on-lending agreement for the EIB part of the financing, which will be will be signed by the Government of St. Maarten and PJIAE; and the on-lending agreement for the World Bank part of the financing, which will be signed by the Government of St. Maarten and PJIAE.
Source: The Daily Herald https://www.thedailyherald.sx/islands/93012-jacobs-airport-agreement-to-be-signed-in-washington-next-week
View comments
Hide comments