Curaçao & Sint Maarten - UNDP Trinidad and Tobago

The following projects are being/have been implemented:
• Urban Infrastructures for Socially Deprived Areas (in execution)
• Sewerage and Sanitation Project Bonaire (in execution)
• Restoration of The Queen Emma Bridge (implemented)
10th EDF
A total of € 24 million was allocated to the former Netherlands Antilles the 10 th EDF(2008-2013). This is allocated per
island, as follows:
Table 8.7: Overview amount and projects for cooperation European Commission- Netherlands Antilles and the Island territories
Entity Amount Proposed sector/ project
Curacao 11,25 M € Urban Infrastructure follow up on the 9th EDF)
Sint Maarten 4,75 M € Sewerage for socially deprived areas (Dutch Quarter)
Bonaire 3 M € Infrastructure/Environment - Sewerage and Sanitation System Bonaire
St-Eustatius 2 M € Economic Infrastructure – Port Development of St Eustatius – expansion of container
storage area
Saba 3 M € Urban infrastructure - Under the Hill – Infrastructure for Social Housing – Phase 2
Source: Former Department for Development Cooperation
Future EU relations
Until now, based on a classic development approach, the EU has focused mainly on fighting poverty. But the
economic situation in the OCTs has changed. The future relationship needs to take account of this new reality, and
it should also better reflect the OCTs’ specific status: The micro-island economies are very vulnerable given their
dependence on very few sectors and the considerable differences between the islands themselves. Also OCTs, as
outposts of Europe all over the world, should be seen as assets for the EU.
In view of the expiry of the current Overseas Association Decision at the end of 2013, three central objectives tailored
to the OCTs’ specificities have been identified:
enhancing competitiveness; - (2) strengthening resilience (reducing OCT vulnerability rather than fighting poverty
and improving capacity to respond to economic shocks, energy dependency and environmental challenges);- (3)
promoting regional cooperation.
Debt relief program
The former Central Government registered a cash surplus of ANG 761.8 million in 2009, a turnaround compared to
the deficit of ANG 172.1 million that had been registered in 2008. Noteworthy is that this was the first cash surplus
since 1986. This significant improvement can be ascribed largely to the debt relief that was initiated in 2009 in the
form of debt service payment assistance for the former Central Government and the former island government of
Curaçao. As part of the debt relief program, the Dutch government paid 100% of maturing principal and 70% of
interest payments due by these two entities during 2009 and settled a large part of outstanding payment arrears.
The debt relief not only resulted in a significant improvement of the budget balance, but also contributed to a
considerable reduction in the consolidated public debt of the former Netherlands Antilles. Hence, the debt ratio
dropped from 82.0% in 2008 to 73.7% of GDP in 2009. These developments show the significant positive impact of
the debt relief on the public finances.
108 First National Report | Curaçao and Sint Maarten Millennium Development Goals | 2011 Report