Minister of Finance, Hon. Marinka Gumbs, wishes to inform the public that CFT has approved the capex loan for an amount of Cg 30 million based on the approved budget for the year 2025.
CFT issued its Article 12 advice on the budget on 24 July 2025. The Minister of Finance responded on 31 July 2025, and on 14 August 2025 the final response from CFT was received, thereby completing the Article 12 hearing and rebuttal process.
The 2025 budget included an approved capex of Cg 52 million; however, based on CFT’s remarks, Sint Maarten had to take into account projects that are either expected to be completed or considered high risk within 2025. As such, the Ministry of Finance requested and obtained approval for a capex loan of Cg 30 million.
This amount must be included in the Netherlands budget and is expected to be received at the beginning of the fourth quarter.
The main approved capex allocations for 2025 are as follows:
· Cg 10.4 million for the new prison project
· Cg 18 million for the purchase of land in Belvedere for housing projects
· Cg 450,000 for the automated parking system at the Clem Labega parking lot
· Cg 525,000 for the replacement and improvement of the Automatic Weather Observatory System (AWOS)
· Cg 450,000 for computer equipment for public schools
· Cg 120,000 for a generator for the Parliamentary Building
The Minister of Finance reaffirms her commitment to keeping the public informed on further developments.
https://www.sintmaartengov.org/news/Pages/Minister-of-Finance,-Honorable-Marinka-Gumbs,-Secures-CFT-Approval-for-Cg-30-Million-Capex-Loan-2025.aspx
