WILLEMSTAD / PHILIPSBURG – Since investments are a crucial component in generating income for a pension fund and as a direct result contribute to the wellbeing of its members (sustainability of lifelong pension payments), Vidanova Pension Fund has invested on several occasions in projects in Sint Maarten. Whenever approached, the fund is open to explore new investment opportunities, especially if they also contribute to the economic development of the islands where it operates.
Prior to September 5th 2019, representatives of the government of Sint Maarten and Vidanova twice discussed the fund’s willingness to contribute in financing the re-construction and investments in Princess Juliana International Airport; and on both occasions Vidanova expressed its interest. In this context, when JPF Corporate Finance was approached to explore whether they can source (arrange or secure) the funding for the airport in Sint Maarten, Vidanova again expressed its willingness to be one of the financiers.
Vidanova wants to make it clear that it cannot finance USD 240 million on its own, nor has it ever indicated that it can do so. What Vidanova can do, is to participate together with a consortium of lenders to finance the airport. In this respect Vidanova’s willingness to participate extends also to a financing package whereby part of the total financing is provided by the Worldbank/EIB.
In the same manner, Vidanova wants to clarify that a two-month timeframe was mentioned with reference to the preparations that need to take place before a possible loan agreement can be signed.
A crucial component of these preparatory activities for Vidanova is the internal coordination and agreement between all policymakers involved with the airport, as agreed during the September 5th presentation.
Vidanova would like to underscore that as a basic principle, any and all decisions taken by Vidanova are economically and financially motivated without any political involvement.
Vidanova hopes that the aforementioned information positions its activities towards financing the airport in Sint Maarten in the correct light.
