PHILIPSBURG--Nagico Insurance purchased the four million guilder bond issue a few weeks ago. The bonds were issued in St. Maarten's behalf by the Federal Treasury after September 11, Leader of Government and Finance Commissioner Sarah Wescott-Williams announced yesterday.
She made this disclosure along with confirming that the long awaited NAf. 4 million earmarked for marketing and other purposes has been transferred by the Central Government into the Island Government's account late last week.
"I'm grateful for Nagico's gesture towards the Island Government of St. Maarten as well as the Windward Islands Bank for its continued assistance," the Leader of Government stated.
Wescott-Williams will meet with the board of the St. Maarten United Non-Governmental Organization Federation (SUNFed) and tourism officials during the coming week to discuss the details and formalities of designating the funds to promote tourism.
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