Finance Minister confirms that funds from the World Bank could take six months

PHILIPSBURG—The Minister of Finance Perry Geerlings has stated that the only finance opportunity that the government negotiated is with the World Bank and the European Investment Bank is a package deal. The minister was responding to questions with regard to the time that the World Bank and the European Investment bank takes to hand over the funds to have the airport reconstruction done.

The Finance Minister was asked about the time it takes for the release which is said to be six months. He stated that although he is aware of this fact, he indicated that “they are trying to speed up that process” and work on a deal to speed up the process.

He however pointed out that they although they need US$100 million to have the airport fixed they may not need all the funds immediately. He said that the funds from the European Investment Bank may come faster and as a result they may be able to use those funds first.