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PostPosted: Tue Aug 23, 2011 6:10 am 
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Government Of Aruba Tapping From Fund To Realize Big Projects


August 28th 2011, Aruba.

ORANJESTAD-Aruba Development Fund (ADF) has US$35 million left to invest on community
projects this year, according to the Director, Frendsel Giel. ADF had reserves of approximately
US$112 million when the Eman government took office at the end of 2009. The government has
requested to have part of the money of ADF invested in projects that will benefit the island
economy directly, and indirectly.

ADF has allocated US$28 million for community projects this year. That sum includes the allocation
of US$10 million for the new government headquarters in Oranjestad, which construction is set to
start in mid September 2011. Another US$11 million is waiting to be approved for this year,
according to Giel.

Giel emphasizes that the Aruba Development Fund is not Aruba's savings account, and that the
money deposited in the Fund by the Aruban government is only managed and used for the purpose
of investing in community projects. Every US$55 million dollars spent in investment projects on
the island is a great push for the economy.

The Dutch and Aruban governments have agreed to create the Aruba Development Fund in 2002
with the purpose to effectively allocate money to projects that are beneficial to the community at
a fast manner, avoiding bureaucracy. The Netherlands has agreed to deposit money in the Fund
until 2010, while the Aruban government will continue to contribute to the Fund by allocating
money every year from their budget. ADF has allocated US$190 million to community projects since
its foundation in 2002.


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