PHILIPSBURG–The World Bank approved the US $72 million airport terminal reconstruction project on Thursday, September 19. The project is designed to restore full service at the Princess Juliana International Airport (PJIA), damaged during the 2017 Atlantic hurricane season.
The project will finance the reconstruction and purchase of equipment for the airport’s terminal, and aims to return the airport to its pre-hurricane passenger handling capacity of 2.5 million passengers per year, said the World Bank in a press release. It also focuses on enhancing PJIA’s resilience to future extreme weather events, the Bank said.
The approved project will be financed by the Netherlands government through the World Bank-managed St. Maarten Reconstruction, Recovery and Resilience Trust Fund.
Reconstruction will be co-financed with an additional $50 million from the European Investment Bank (EIB) and $7 million from Princess Juliana International Airport Operating Company N.V. PJIAE, according to the press release.
The project includes support to PJIAE’s operating expenditures should weather-related or other risks materialise during the reconstruction period, as well as capacity-building activities for the St. Maarten government and PJIAE, said the Bank.
The $553.4 million St. Maarten Trust Fund is managed by the World Bank and financed by the Netherlands government. The trust fund provides financial resources and technical support to St. Maarten’s National Recovery and Resilience Plan (NRRP) and its goals of restoring economic, community and governance infrastructure, as well as service delivery.
Four projects amounting to $134 million are under implementation by the St. Maarten government, said the World Bank.
Source: The Daily Herald https://www.thedailyherald.sx/islands/91105-world-bank-approves-pjia-terminal-reconstruction-plan
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