GREAT BAY:---Commissioner of Finance Xavier Blackman, in his capacity of Sint Maarten’s National Authorization Officer for European Union Funds, and his advisors recently met with Mr. Christian Hiddink, who is a consultant for the European Union.
Hiddink has been commissioned to analyze if and to what extent the Netherlands Antilles are eligible to receive budgetary aid from the European Union starting in 2011.
Currently visiting the Netherlands Antillean islands, Hiddink is conducting research on government finances, reform of the financial management, and the macro-economic situation. He is also meeting with representatives of the Central and Island Governments, as well as the Cft—(College financieel toezicht) or freely translated: Council for financial supervision.
Under the 10th European Development Fund (EDF) 24 million Euros have been earmarked for the Netherlands Antilles, preferably in the form of budgetary aid. About 4.75 million Euros of that amount is expected to be earmarked for St. Maarten.
Commissioner Blackman outlined St. Maarten’s financial situation and the plans that are being worked on to improve the financial state of affairs.
What are the different options and procedures for receiving financial disbursements from the EU? According to Hiddink, there are three ways in which the EU disburses funds, namely via direct budgetary aid, program aid, and aid for individual projects.
Hiddink pointed out that the EU has made a shift towards providing direct budgetary aid. This new procedure allows the receiving governments to apply the funds towards the implementation of their policies and result in direct benefits to the communities at large and the citizens. Direct budgetary aid, however, requires government to comply with certain conditions and have clear policy objectives and mechanisms in place.
Mr. Hiddink’s report to the EU is expected to be completed by the end of November. Based on the decision of the European Union, follow-up will take place by the Department of Finance in order to secure the funds that will be allocated to St. Maarten.
