WILLEMSTAD – Curaçao’s Ministry of Economic Development (MEO) is extending its financial support for agricultural entrepreneurs, allowing local farmers and other businesses in the sector to continue accessing favorable financing through Qredits Curaçao. The government says the initiative is intended to strengthen local food production while improving Curaçao’s food security and economic resilience.
The extension builds on the Agrifonds initiative launched by MEO and Qredits in February 2024. At the time, the government presented the program as a way to develop agriculture into a stronger and more sustainable economic sector while increasing the production of locally grown food.
In announcing the extension, MEO said food security should also be viewed as an economic opportunity for Curaçao’s local entrepreneurs.
The ministry said continuing to make funding available to agricultural businesses represents another step toward strengthening the island’s ability to withstand future challenges while creating opportunities for local companies.
Through Qredits’ current Agriloan program, agricultural entrepreneurs can apply for financing of up to Cg 100,000. The loan has a five-year term and carries an annual interest rate of 2 percent. The favorable rate is made possible through an interest subsidy provided by the Curaçao government.
The financing can be used to establish a new agricultural business, purchase equipment, provide working capital or expand an existing operation. The program also provides a six-month period during which borrowers pay interest but do not yet have to repay principal.
The initiative goes beyond financing. Entrepreneurs can also receive individualized advice and have the opportunity to participate in the Agri-Business Academy, which combines business education with practical agricultural training.
Qredits works with MEO and the Federashon Kooperativanan Uní di Produkshon (FKUP) on agricultural entrepreneurship development. FKUP experts provide practical agricultural knowledge as part of the academy.
Two editions of the Agri-Business Academy were organized in 2024, with 32 participants completing the program. Participants worked on business plans and received training, mentoring and practical exposure to agricultural entrepreneurship.
The financing program comes amid a broader debate over Curaçao’s dependence on imported food and the need to strengthen local production. MEO sees greater access to capital as one way to enable agricultural businesses to expand production and contribute more significantly to the domestic food supply.
The ministry did not specify in its latest announcement how much additional money is being made available through the extension or how long the extended funding period will remain open.
Agricultural entrepreneurs interested in the program can find the current financing conditions and application requirements through Qredits Curaçao’s Agriloan program.