St Maarten: Gov't, World Bank sign deal to rebuild airport
The government of St Maarten has signed a grant agreement with the World Bank for the reconstruction of the Princess Juliana International Airport.
The Terminal Reconstruction Project will cost US$72 million and aims to restore full service at the airport, which suffered extensive damage with the passage of hurricane Irma in September of 2017.
The project is a tripartite initiative that includes a $72 million grant from the St. Maarten Recovery and Reconstruction Trust Fund. This fund is financed by the government of the Netherlands and managed by the World Bank.
The other two parts of the financing agreement are $50 million from the European Investment Bank and $7 million from the PJIA Operating Company.
Prime Minister Silveria Jacobs, said “Tourism is the backbone of St. Maarten’s economy, so restoring the full capacity of the airport is of vital importance to the economic recovery and development of our country.”