Sint Maarten Enterprise Support Project

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The development objective of the Enterprise Recovery Project for Sint Maarten is to support the recovery of micro, small, and medium sized enterprises through direct financial assistance to contribute to the restoration of economic activity.It has three components. First component, Direct financial support to Micro, Small, and Medium Enterprises (MSMEs) for investment and working capital will provide tailored packages to eligible enterprises of grants and loans for asset or repair (AR) investment, as well as working capital (WC) loans if required.Second component, Study of financial solutions for improved disaster resilience will finance a longer-term study to explore financial instruments, markets, tools, and solutions for improving disaster resilience in Sint Maarten. Such markets or instruments may include private insurance, public asset insurance, sovereign insurance markets, regulation, and supervision of insurance and reinsurance; and Third component, Training, project implementation, audit and monitoring and evaluation will provide training to financial institution (FIs) to improve their MSME lending skills and training sessions of business continuity planning (BCP) for both enterprises and FIs. This component will also fund implementation support to ensure that the governance of the project is well managed.