From left: Senior Policy Advisor Robert Jan de Wilde, Head of the Dutch Representation Office in Philipsburg Chris Johnson, Port CEO Mark Mingo, and NIA Director Peter Martens on a water taxi tour of Great Bay and the cruise and cargo facilities.
POINTE BLANCHE--Management of Port St. Maarten recently met with Netherlands Investment Agency (NIA) Director Peter Martens about optimizing compliance for projects with the requirements eligible for financing opportunities offered by the European Fund for Strategic Investments (EFSI).
Port Chief Executive Officer (CEO) Mark Mingo said Martens was provided information about investments made in the past and type of investments that needs to be made in the near future to keep the port and the destination competitive in cruise tourism.
EFSI offers more competitive commercial loans within the European Union (EU) or associated countries, to support projects in areas such as smart cities, circular economy, energy transition and support for corporate finance.
Cruise lines are making considerable investments in constructing Future Larger Vessels (FLV). The next generation ships are the largest ships ever to be built, which will be larger and hold more passengers than those currently serving the cruise sector.
The Port must be ready to accommodate the next-generation cruise ships that are currently under construction or will be built in the foreseeable future. “These investments will take time to be made, and therefore it is very important to start from now in order to make those strategic sustainable investments to protect our cruise tourism product and grow our economy,” Mingo said in a press statement Sunday.
The two organizations where EFSI funds are drawn from is the European Investment Bank (EIB) Group responsible for the overall implementation consisting of the EIB and the European Investment Fund (EIF).
The role of NIA is to set the course and prepare the road for parties approaching the EIB and the EFSI in particular, and to provide information about the objectives and possibilities of the EFSI fund.
