WILLEMSTAD - The government is setting strict conditions on the governance structure of the Curaçao Medical Center (CMC) before releasing tens of millions in additional funding and capital support. This is stated in the explanatory notes to the 2025 Supplementary Budget, submitted to Parliament over the weekend.

According to the document, both CMC Vastgoed (Real Estate) and CMC Exploitatie (Operations) must adjust their governance frameworks to fully comply with the Landsverordening Corporate Governance. The legal structure of both entities will be revised in coordination with the government to meet those requirements.

Budget Impact

The governance changes are directly linked to the country’s budget policy. The structural annual support of 58 million guilders and the one-time capitalization of 111 million guilders together represent nearly ten percent of Curaçao’s entire national budget.

Because of this significant financial footprint, the government insists that these funds will only be granted if the hospital can demonstrably meet transparency standards and submit to professional oversight.

Increased Government Oversight

Implementing the corporate governance rules will give the government influence over supervisory board appointments, financial reporting obligations, and the hospital’s strategic decision-making.

According to the government, this increased oversight is necessary to ensure that the hospital’s long-standing financial problems do not resurface. Strengthened governance has therefore been made a central condition for unlocking the substantial support package.