In just two years of implementation, the Trust Fund’s Enterprise Support Project (ESP) has approved more than US $11 million and disbursed US $10.4 million in financial support packages to 150 local businesses to help them recover from the effects of the Sint Maarten economy’s recent downturns.
Officially launched in August 2020, the ESP is providing a much-needed boost to the economy by facilitating grants and low-interest loans to micro-, small-, and medium-sized enterprises (MSMEs) with the help of partnering financial institutions Qredits, Banco di Caribe, Windward Islands Bank (WIB), and the Ontwikkelingsbank van de Nederlandse Antillen (OBNA).
As of September 6, 2022, exactly 150 MSMEs have been approved for financial assistance through ESP. These enterprises are diverse and represent many sectors of the local economy, such as construction and landscaping companies, health service providers, bus and taxi operators, food delivery services, fitness gyms, retailers of locally made clothing, and hair salons, just to name a few. Out of the 150 approved businesses, 51 have been start-up companies and 99 are existing businesses.
For more information about ESP and its financial packages, please visit www.nrpbsxm.org/esp.
The Sint Maarten Trust Fund is financed by the Government of the Netherlands, managed by the World Bank, and implemented by the NRPB on behalf of the Government of Sint Maarten.