THE NETHERLANDS — The Council of Ministers agreed on the proposal of Minister Beljaarts of Economic Affairs and State Secretary Szabó (Digitalisation and Kingdom Relations), to allocate funds from the Credit Guarantee for SMEs (BMKB) to entrepreneurs in Curaçao, Aruba, and St. Maarten. This significantly improves the access to financing for entrepreneurs in the Caribbean part of the Kingdom. This makes an important contribution to economic strengthening of the region.
Minister Beljaarts: ‘’Small and medium-sized enterprises are hugely important for the economy and for society. They provide employment and produce the goods and services we use every day. With the launch of the BMKB scheme for Curaçao, Aruba, and St. Maarten, we are offering entrepreneurs new opportunities to realise their ambitions. This is an important step to further strengthen the business climate and the economic resilience in the Caribbean part of our Kingdom.”
About the BMKB scheme
The BMKB scheme is an instrument of the Ministry of Economic Affairs that supports entrepreneurs in obtaining financing. By offering a partial guarantee, the risk for financiers is reduced, which encourages them to provide credit. This enables entrepreneurs to invest in their businesses, contribute to innovation, and promote employment.
The scheme is implemented by the Ministry of the Interior and Kingdom Relations. Responsible State Secretary Szabó wants to work with the governments of Aruba, Curaçao, and St. Maarten and suitable financiers operating in these countries to improve the access to financing.
State Secretary Szabó: ‘It is very difficult for the small and medium-sized enterprises in Aruba, Curaçao, and St. Maarten to obtain capital for investments. While these very entrepreneurs are of great importance to the economic self-sufficiency of the autonomous countries. In addition to good governance and solid public finances, I want to contribute to a better future for the residents of the islands and that is where this scheme can help. I hope that all credit providers on the islands start offering the scheme to entrepreneurs when the time comes, because it is much needed.”
Impetus for economic development
The scheme is due to open after the summer of 2025. From then on, suitable financiers have the option of providing a guarantee. The financier can apply for the guarantee through the Netherlands Enterprise Agency.
Follow-up process
Now that the Council of Ministers has agreed, the internet consultation for the scheme can start. In this regard, everyone is welcome to comment on the content of the scheme. Documents are available in three languages and can be found under the heading: ‘Relevante documenten‘. The ACS countries themselves will then be asked to agree to the scheme. The aim is to open the scheme by September 2025. This means lenders can offer the BMKB scheme from September/October.
