THE HAGUE, WILLEMSTAD - The Netherlands is still awaiting the court ruling on the takeover of the Giro Bank loan portfolio.
This can be deduced from the explanatory memorandum to the supplementary budget 2021 of Kingdom Relations. Only then will the promised 170 million guilders become available.
The Hague is prepared to provide a loan to Curaçao under certain conditions to enable the settlement of Giro Bank.
Most conditions have been met by Curaçao. The only condition that still needs to be met is that the court must rule on the legal validity of the transfer of the loan portfolio of Giro Bank to a specially created Special Purpose Vehicle (SPV). This case will be brought to court this month.
The loan will not exceed the value of the loan portfolio of 170 million guilders (€ 83.3 million). The interest for the loan is based on the interest that the Dutch State would owe for a Dutch State Loan with a term of 15 years, to be determined two days before the date of making the funds available. But the interest will not be less than 0%.