PHILIPSBURG–Minister of Public Health, Social Development and Labour VSA Emil Lee said he has received “written and verbal” commitments of funds to the tune of NAf. 135 million to construct the new general hospital for St. Maarten.
“Based on a combination of written and verbal commitments, we believe that we have the full amount of funds available to build the new main hospital,” Lee told The Daily Herald on Tuesday evening. “We are in the process of preparing the final loan documentation. I am hopeful that the formal signing can be done within the next few weeks.”
The minister said the total commitment for funding is approximately NAf. 135 million. He said “the funds will be secured via St. Maarten and Curaçao-based financial institutions. We are in the process of finalising the total investments based on post-Irma specifications.”
Lee said the construction for the new hospital is expected to start in March 2018, and the entire project is estimated to take about three years to be completed. “We are evaluating the various alternatives post Irma and expect a final decision by mid-February,” he said.