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APS increases pensions with 3,61%.

PHILIPSBURG:--- On July 2nd, the Algemeen Pensioenfonds Sint Maarten (APS) presented its 2024 annual report with a clean (unqualified) opinion to the Minister of Finance. Mr. Emilio Kalmera (Board member) and Mr. Oscar Williams (Managing Director) met with the Minister to discuss the financial growth and strategic developments of the pension fund throughout the year. The presentation highlighted APS’s financial status, current developments within APS and the commitment to its participants.

Mr. Williams stated, “We are pleased to announce that in the month of July, the pensions will be increased retroactively from 1 January 2025 with 3,61%, which is based on the inflation over 2024. This year was a positive year for APS, whereby we realized an increase in the value of our investment portfolio due to favorable developments in the international markets. In addition, the actuarial interest rate was increased which resulted in a decrease in the pension benefit obligation. These factors combined improved the financial position of APS, resulting in an increase of the coverage ratio to 114,13% end of 2024 compared to 109.09% of last year 2023.” APS can only increase pensions if the coverage ratio is at least 105%.

A clean (unqualified) opinion by the auditor means that the financial statement is presented fairly, in all material aspects and is in accordance with the applicable financial reporting framework. Mr. Williams stated further, “This is the result of continuous hard work and dedication of the organization and the constructive collaboration with the affiliated employers and relevant stakeholders”.

Regarding local investments, APS continued to devote considerable time and attention in 2024 to establishing a robust organization to objectively assess and realize local investments. An important step in this process was the finalization of the agreement (SLA) with the Sint Maarten Investment Company (SMIC) which was executed in July 2024. SMIC evaluates financing requests and proactively seeks potential investments in Sint Maarten. With this, APS aims to build a solid local investment portfolio that adheres to the pension fund’s investment guidelines and leads to successful and profitable projects in Sint Maarten.

Looking forward to 2025, APS made a considerable strategic change in their international investment portfolio by selecting BlackRock as the new fiduciary manager and Northern Trust as the custodian. In addition to the aforementioned, APS conducted and finalized their Asset Liability Management study (ALM). The purpose of the ALM study was to examine whether the current policies (actuarial and financial) of APS still match the ambition and risk appetite and explore alternative asset allocations that lead to a more optimal risk and return.

Mr. Kalmera stated “With these changes and the execution of the ALM study, the focus of APS remains on maintaining the financial stability of the pension fund while ensuring the welfare of its participants. While we can index pensions this year, there may be years when this isn't possible. Our ability to make these adjustments depends heavily on the financial markets and prevailing interest rates.”

The APS board remains committed to continuous improvement. We will keep enhancing our expertise, optimizing our governance processes, and making informed decisions to benefit our participants. Our focus will continue to be on sustainable growth, innovation, and delivering tangible benefits to our participants. We are dedicated to being a reliable and forward-thinking partner to all our stakeholders.


Two weeks of hard military assistance at Suffisant Marine Barracks completed.

marinebarracks06072025WILLEMSTAD:--- At the request of the Governor of Curaçao, Defense provided hard military assistance in Curaçao from June 22 to July 5. This assistance took place in the context of facilitating a hearing location and the intensive security measures surrounding the hearing in the so-called Themis case. The hearing was held at Suffisant Marine Barracks and was characterized as a high-profile and high-risk event. Various military units, such as the Marine Squadron Carib, the Company in the West, Counter-Unmanned Aerial Systems (C-UAS), Explosive Ordnance Disposal Service Defense and the Royal Military Police supported the Curacao Police Force.

Due to the seriousness and sensitivity of the case, the safety measures associated with Alert State C, a heightened state of readiness, have been applied. Intensive security and surveillance are deployed 24 hours a day, both at and around the barracks. This included patrols inside and outside the premises and surveillance of the airspace above the naval barracks.

First for enforcement action against drones

A special aspect of this operation was the deployment of the Marine Corps Counter-UAS team. For the first time, this unit was not only deployed for detection and shielding, but was also actually authorized to take enforcement action. This meant that drones that entered the airspace above Suffisant Marine Barracks, which had been declared a no-fly zone, were jammed and thus put out of action. On average, 10 drones are neutralized in this way per day.

A total of approximately 120 soldiers, police officers and civilian employees are deployed per day to ensure safety. In addition, approximately 30 people were present every day who were involved in the substantive handling of the case: court officials, the Public Prosecution Service, lawyers, the suspect, surviving relatives, family members, press and other visitors.

Defense's deployment took place in close cooperation with local security partners and proceeded without significant incidents. This has made an important contribution to the safe conduct of a case that is receiving national and regional attention. Providing military assistance falls under the third main task of Defense in the Caribbean.

Qredits Launched the Agriculture Business Academy in Sint Maarten.

Empowering Local Farmers and Fishermen with 12 Weeks of Intensive Training

qredits06072025PHILIPSBURG:---  Qredits proudly launched its first Agriculture Business Academy on July 3, 2025, in Sint Maarten—a transformative initiative aimed at strengthening the island’s agricultural and fishery sector through a blend of business and agricultural education. With 19 motivated participants (most of them existing entrepreneurs in the sector) in attendance at the launch, the program will span 12 weeks, offering practical training in farming, agri-innovation, entrepreneurship, business finance, and sustainable practices.

This pioneering program is supported by the Ministry of Tourism, Economic Affairs, Transport and Telecommunication (TEATT) and funded by Temporary Work Organization (Dutch Ministry of Kingdom Relations) and organized by Qredits Sint Maarten and SOFIN (Social Finance Consulting). The Agri Business Academy represents a collaborative effort to drive food security, economic empowerment, and agricultural innovation in Sint Maarten.

The program is offered free of charge to all participants, removing financial barriers and ensuring that any committed individual with a passion for agriculture has the opportunity to benefit from expert training and support.

Participants will receive instruction from two respected local experts: Mrs. Lucrecia Lynch and Mr. Denicio Wyatte, who bring a wealth of knowledge and experience in agriculture and business development. Their guidance will be instrumental in equipping participants with the practical tools and insight needed to build sustainable agribusiness ventures.

Upon successful completion of the program, participants will be eligible to apply for a unique Qredits loan of max $ 50,000 with an interest rate of 2%. This program is specifically designed to support new and existing agribusiness and fisheries ventures, underscoring Qredits’ commitment to creating real, long-term opportunities for local entrepreneurs.

The Agri Business Academy was officially opened by Minister Grisha Heyliger-Marten from TEATT. “As Minister of TEATT, I am proud to support this initiative that not only builds capacity in agriculture but also strengthens our economy and promotes food resilience,” stated the Minister. “Empowering our people through knowledge and opportunity is the cornerstone of our sustainable development goals, and this academy is a bold step in that direction.”

The program is being managed by Elwin Groenevelt, Founder of Qredits and now CEO of SoFin, who played a key role in bringing the agricultural projects to life on Aruba, Curaçao and Bonaire and now on Sint Maarten. “We believe in the power of entrepreneurship as a tool for social and economic transformation,” said Groenevelt. “This Academy will not only help participants build viable business plans, but it will also contribute to innovation and food security on the island. ”

Also present at the launch was Bernise Stoffer, representing  RVO as the Project Manager for the E6 Country Packages on behalf of the Dutch Ministry via Temporary Work Organization (Landspakket), who emphasized the program's alignment with broader Kingdom goals: “This academy reflects a shared vision across the Kingdom to empower entrepreneurs, promote sustainable agriculture, and build stronger, more resilient communities in the Caribbean part of the Kingdom.”

Participants in the program range from new farmers and fishermen to existing agricultural and fishery business owners, all driven by a common goal: to grow and thrive in the food sector. With expert facilitators, hands-on workshops, personalized coaching, access to affordable financing, and no cost to enroll, the Academy is poised to make a lasting impact on Sint Maarten’s economy and food systems.

Minister of Finance, Marinka J. Gumbs, Presented with Historical NAf Book and Caribbean Guilder Collector’s Set.

marinkalofowong06072025PHILIPSBURG---  The Minister of Finance, Marinka J. Gumbs, was presented with a historical commemorative book on the Netherlands Antillean Guilder (NAf) and a collector’s set featuring the new Caribbean guilder coins and banknotes.

This symbolic handover marks a significant moment in the monetary history of the countries Sint Maarten and Curacao, representing the official transition from the Netherlands Antillean Guilder to the Caribbean guilder. With the end of the co-circulation period on June 30, 2025 the Caribbean guilder is now the sole legal tender in circulation.

BTP & ODM Collaborate on Drone Training Program for EOC Members.

PHILIPSBURG (DCOMM):---  Bureau Telecommunications and Post (BTP), in collaboration with the Office of Disaster Management (ODM), is launching a certified drone training program to strengthen disaster response capabilities on the island.

The training is specifically designed for the Emergency Operations Center (EOC) members.

The three-day session starts on July 7 and continues on July 8 and 9th at the Fire Department in Cay Hill.  

The training will certify participants in operating their drone based on procedures for safe drone flights.

Interim Director of BTP/Coordinator Emergency Support Function (ESF) 2, Judianne Labega-Hoeve, said, “As a committed EOC member, we continuously train for various disaster scenarios. Equally important is ensuring that all EOC members are well-equipped and prepared to respond effectively.

“That’s why BTP, together with the Office of Disaster Management, initiated this certified drone training. Drones have proven to be valuable tools in disaster response, supporting damage assessments, search and rescue, security, infrastructure monitoring, and more.

“We are proud to contribute to strengthening disaster management capabilities on Sint Maarten.”

The theoretical modules cover the following topics: Laws and regulations, including national aviation rules, privacy laws, no-fly zones, and radio communication; Airspace and navigation, encompassing airspace classifications, weather and environmental factors, and basic aerodynamics; Drone technology, which includes types of drones and their uses, sensors and payloads, control systems, and incident prevention.

The practical modules cover Preparation and Planning: Mission planning, risk assessment, and pre-flight checks; Control and Maneuvering: Basic and advanced flight techniques, emergency procedures, and troubleshooting; Maintenance and Safety: Routine maintenance, safe storage and transport, and post-flight inspections.


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