Millions in subsidies available for sustainable projects

PHILIPSBURG — State Secretary Alexandra van Huffelen has made more than $23 million in subsidies available to St. Maarten for projects that strengthen the country’s sustainable ability to generate income.

The objective of the subsidy-regulation is to contribute sustainably to the economic development of the country with a system of guarantee-regulations from the National Service Entrepreneurial Netherlands (RVO), the National Growth Fund and regulations for sustainable energy production (SDE+++).

Eligible request for subsidies can come from legal entities that are governed by private law and from natural persons that run a business. The RVO executes the regulation based on a mandate from the Ministry of Home Affairs and Kingdom Relations.

An Advisory Committee for the sustainable ability to generate income advises the minister about project proposals. This advice includes an answer to the question whether there is sufficient confidence that the project will – directly or indirectly – contribute to the strengthening of the sustainable ability to generate income.

The regulation published by State Secretary van Huffelen in the Dutch National Gazette (Staatscourant) indicates several projects that qualify for a subsidy. Among them are projects that support the combat against the consequences of climate change and that shape the energy transition; projects that strengthen the quality of education and improve the education-infrastructure; and projects that improve the government’s digital infrastructure and strengthen the public service to citizens and enterprises.

The subsidy program makes a distinction between two stages. Under Stage A subsidies are available for preparatory activities that are necessary to apply for Stage B subsidies. Stage B is where the activities as described in a project proposal take place. The subsidy available to St. Maarten for Stage A is €1,191,833.33 ($1,299,098) and for Stage B €20,261,166.66 (($22,084,672). The maximum for Stage A subsidy requests is €300,000 (327,000)

The regulation takes effect on an undetermined date for St. Maarten and it expires per January 1, 2030.

###

For more information, click here>>>

###

ADVERTISEMENT