BRUSSELS – Curaçao could face greater competition for European Union funding under a new financing model being proposed by the European Commission.
Currently, Overseas Countries and Territories such as Curaçao receive pre-allocated funding through fixed territorial budgets. Under the proposed system, those guaranteed allocations would disappear and funding would instead be awarded based on project quality, population size, economic development and implementation capacity.
The report warns that access to future funding will depend heavily on the ability of governments to prepare complex project proposals and successfully compete for EU resources.
European officials argue that the new system will encourage larger and more strategic projects. However, critics fear that smaller territories may struggle to compete against larger jurisdictions with more administrative resources.
For Curaçao, the changes could create both opportunities and risks. Strong project development could unlock access to larger funding streams, while weak preparation could result in missed opportunities.
The report specifically highlights the importance of strengthening governmental capacity to ensure islands can successfully apply for and manage EU-funded projects.