WILLEMSTAD - The Director of the Central Bank of Curaçao and Sint Maarten, Richard Doornbosch, has proposed swapping the significant COVID-19 debts of the Caribbean countries in the Kingdom for investments in climate resilience. Doornbosch made this statement yesterday during the 'Celebrating 70 Years of the Statute' conference in The Hague. He suggested that the funds freed up by lower debt obligations should be allocated to projects focused on protecting marine ecosystems, such as coral reefs, or strengthening coastal and drainage systems. 

The Caribbean islands of the Kingdom are facing significant challenges due to the effects of climate change. Addressing these challenges, according to Doornbosch, requires "new and practical solutions that are tailored to the unique circumstances of each country." Curaçao still owes the Netherlands 911 million guilders in COVID-19 loans, Aruba owes 915.5 million guilders, and Sint Maarten owes 316.4 million guilders.