PHILIPSBURG: --- The announcement made last week by Prime Minister Dr. Luc Mercelina that he would establish the Disaster Reserve Fund for Housing Projects is misleading since the initiative came from the Steering Committee of the World Bank some years ago.
Based on information SMN News has in its possession, it states that the World Bank has already streamlined the establishment of this fund, which will be channeled through the NRBP.
According to the documentation in our possession, it shows that the idea for the Disaster Reserve Fund was for the repayment of the 80 million Dollars loan given to the Princess Juliana International Airport reconstruction to be deposited in the fund; when the loan is repaid, the fund will then be used in the event of future disasters such as hurricanes.
PJIAE has to repay the loan with a 2.25% interest rate, while the actual loan of 80 million will be used specifically after any act of God disaster. One of the reasons the Dutch Government channeled the $550 million aid post Hurricane Irma through the World Bank in 2017 was to ensure the government and politicians in St. Maarten did not misspend the money meant for recovery purposes post-disaster.
Last week, the Prime Minister had the establishment of the fund on the agenda of the Council of Ministers meeting, and it was voted down by the majority in the Council of Ministers because they are all fully aware that the World Bank has already streamlined this fund for future disasters.
Despite the idea of diverting the funds from the Disaster Reserve Fund for housing projects being rejected, the Prime Minister did make the announcement at the Council of Ministers press briefing.
SMN News also understands that the Prime Minister appointed three persons to carry out the task of diverting the fund, but the names of the persons were not presented to the Council of Ministers.
Reliable sources have identified the three persons as
• St. Maarten Representative on the Steering Committee Ronald Halman/
• Secretary General of Finance Roxanne Howell
• Abel Knotterus from NRPB.
