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Agreement for Shifting of SEI Funds Reached.

Philipsburg: --- The island government of St. Maarten has received the green light from the Dutch government to begin shifting some of the SEI (Social Economic Initiative) funding announced commissioner of finance Roy Marlin. St. Maarten had submitted a request to the Dutch government asking that they re-direct some of the monies that are available through the SEI at USONA so that the island can begin some aggressive marketing to fight the global economic down turn.

Marlin said the island government has been working on getting additional monies as a stimulus but even though the process took time, they are now able to spend at least 4 million guilders since the Dutch government has agreed on the shifting and they were given the go ahead on Tuesday. The finance commissioner said that the private sector would be putting up 2.4 million guilders for the marketing stimulus program.
Marlin said the only thing that is left to be done before the monies become available is to submit the request to USONA who already received the same documents as the island government.

The 6.2 million guilders Marlin said will be used for the rest of 2009 to early 2010. Marlin said he is very content now that the process is almost over because he does not believe there would be any improvement in the tourism sector during this down turn. He said every island has begun spending additional monies to attract more visitors.

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