PHILIPSBURG, St. Maarten, The World Bank has officially opened its St Maarten Country Office, reinforcing the Bank’s commitment to the people of the country in its role to support the implementation of the St. Maarten Reconstruction, Recovery, and Resilience Trust Fund.
This country office is the Bank’s 144th worldwide, the 21st office in the Latin America and Caribbean Region, and fourth overall in the Caribbean.
According to the Bank, this is the first non-member county office in the Caribbean. It underscores the importance of the Bank’s work in St. Maarten, bringing its global expertise, capacity-building support, and collaboration closer to partners and the community.
In October 2022, the World Bank became the first international organization to sign a host country agreement with the island.
‘“Since establishing the Trust Fund in April 2018, the World Bank has played an important role in helping Sint Maarten’s response and resilience to natural disasters. Establishing an office on-site will allow the World Bank to respond to the country’s needs readily,”_ said Lilia Burunciuc, World Bank Country Director for Caribbean Countries.
Programme Manager, Toyin Jagha, heads the new office and, with her team, will focus on strengthening critical relationships with stakeholders and partners, including the Government of St Maarten, Trust Fund beneficiaries, and the wider.
“The Bank is proud to be on the ground, supporting Sint Maarten to build back better. This is a special moment for us, and as the project evolves, we hope to collaborate with our local partners, sharing our experience and knowledge to strengthen Sint Maarten’s capacity for long-term sustainability,” said Jagha.
She added that as the world is transitioning to more green and climate-friendly technologies, through the Trust Fund – and with the World Bank’s guidance on international best practices – St Maarten has a unique opportunity to pioneer sustainable development.
“This is a significant milestone for the island and a testament to our commitment to sustainable development, economic growth, and fostering global partnerships. The presence of the World Bank in Sint Maarten demonstrates the international recognition of our potential and the importance of our role in the global community. This development reinforces our position as a reputable and reliable partner in pursuing our shared goals of poverty eradication, inclusive growth, and environmental stability,” said Prime Minister Silveria Jacobs.
“Having the World Bank’s office in Sint Maarten brings numerous benefits to our nation. It will provide access to global technical expertise, financial resources, and knowledge-sharing platforms. This partnership will enable us to implement innovative and effective strategies to address our socio-economic challenges, particularly in the aftermath of recent hurricanes and the COVID-19 pandemic.”
The Trust Fund’s total allocation is $519 million over ten years. The current portfolio, comprising ten ongoing projects, is valued at around $430.5 million, with three new projects valued at $3 million and $7 million additional financing anticipated to come on stream over the next year.
The Government of the Netherlands funds the St. Maarten Trust Fund.
“I wish the World Bank team all the best in their new office, and I thank them for their continuing work on the reconstruction. Every time I visit St Maarten, I see progress. A lot of work is still ahead of us. Still, with all parties gathered here, and with the opening of this office, I believe we can make a difference for the people of St Maarten,” said Dutch State Secretary for the Ministry of the Interior and Kingdom Relations and Minister for Digitalisation Alexandra van Huffelen.
The Trust Fund is scheduled to close on December 31, 2028.
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