PHILIPSBURG:--- The Government of St. Maarten has included a guarantee of NAf 5 million on behalf of Telem in the 2025 budget, which Parliament unanimously approved, the Minister of Finance Marinka Gumbs announced on Wednesday.
While the NAf 5 million guarantee will become available when the 2025 budget is enacted, the government proposes to provide TELEM with this support in stages rather than disbursing the full amount at once.
SMN News also understands that the government will conduct a quick scan of the company before the financial disbursement.
Gumbs said that they support local government-owned entities while ensuring that there is
proper oversight and financial accountability.
By allocating the funds in phases, the government can better monitor the company’s financial progress, ensure efficient utilization of resources, and maintain fiscal responsibility. The Government remains committed to supporting Telem’s development while ensuring that public funds are managed effectively to promote long-term sustainability for
our government-owned companies.
