WASHINGTON, Sept. 20 — The World Bankissued the following news release:
The World Bank on Thursday approved the U.S. $72 million St Maarten Terminal Reconstruction Project. The project is designed to restore full service at the Princess Juliana Airport in Sint Maarten, damaged during the 2017 Atlantic hurricane season.
The project will finance the reconstruction and purchase of equipment for the airport’s terminal and aims to return the airport to its pre-hurricane passenger handling capacity of 2.5 million passengers per year. It also focuses on enhancing Princess Juliana International Airport’s resilience to future extreme weather events.
The approved project will be financed by the Netherlands Government through the World Bank-managed Sint Maarten Reconstruction, Recovery and Resilience Trust Fund (Sint Maarten Trust Fund). Reconstruction will be co-financed by an additional US$50 million from the European Investment Bank and US$7 million from Princess Juliana International Airport Operating Company N.V., the airport’s operating company (PJIAE).
THE Project includes support to PJIAE’s operating expenditures should weather-related or other risks materialize during the reconstruction, as well as capacity building activities for the Government of Sint Maarten and PJIAE.
The 470 million euros (US$553.4 million) Sint Maarten Recovery, Reconstruction and Resilience Trust Fund is managed by the World Bank and financed by the government of the Netherlands. The Trust Fund provides financial resources and technical support to Sint Maarten’s National Recovery and Resilience Plan (NRRP) and its goals of restoring economic, community and governance infrastructure, as well as service delivery. Four projects amounting to US$134 million are under implementation by the Government of Sint Maarten.
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