THE HAGUE – The Dutch Council of Ministers has approved a proposal by Minister Beljaarts of Economic Affairs and State Secretary Szabó (Digitalization and Kingdom Relations) to make funds from the SME Loan Guarantee Scheme (BMKB) available to entrepreneurs in Curaçao, Aruba, and Sint Maarten. This initiative aims to significantly improve access to financing for small and medium-sized enterprises (SMEs) in the Caribbean part of the Kingdom. The Dutch government will allocate €6 million annually for this program.
Boosting Economic Growth for Caribbean Entrepreneurs
Minister Beljaarts emphasized the critical role of SMEs in driving economic growth and job creation:
“Small and medium-sized businesses are vital for the economy and society. They provide employment and produce the goods and services we rely on daily. By launching the BMKB scheme for Curaçao, Aruba, and Sint Maarten, we are offering entrepreneurs new opportunities to realize their ambitions. This is an important step toward strengthening the business climate and economic resilience in the Caribbean part of our Kingdom.”
How the BMKB Scheme Works
The BMKB program, managed by the Ministry of Economic Affairs, supports entrepreneurs seeking financing by partially guaranteeing loans. This reduces the risk for lenders, making them more willing to provide credit. The scheme enables businesses to invest, innovate, and create jobs, contributing to economic development in the region.
State Secretary Szabó, responsible for Kingdom Relations, is committed to collaborating with the governments of Aruba, Curaçao, and Sint Maarten, as well as local financial institutions, to improve access to financing:
“Entrepreneurs in Aruba, Curaçao, and Sint Maarten face significant challenges in securing investment capital. Yet, they are key to the economic self-sufficiency of these autonomous countries. In addition to good governance and sound public finances, I want to help create a better future for the islands' residents. I hope that local lenders will actively participate in this program, as it is urgently needed.”
Program Launch in September 2025
The BMKB scheme will officially open after the summer of 2025. At that point, approved financial institutions will be able to offer loan guarantees to eligible businesses. The application process will be managed by the Netherlands Enterprise Agency (RVO).
Before the program launches, an online consultation period will begin in February 2025, allowing stakeholders to provide input. The governments of Curaçao, Aruba, and Sint Maarten will then be asked to formally approve the plan. The Dutch government aims to officially roll out the program by September 2025.