WILLEMSTAD – Fundashon Kas Popular (FKP) has held discussions with representatives of the Curaçao Bankers Association (CBA) as part of its efforts to advance Mi Kas Awor, an ambitious housing initiative designed to make homeownership more accessible to families across Curaçao.
The meeting took place on Thursday, November 12, 2026, under the leadership of CBA President Pierrot Hurtado. During the session, FKP delivered an extensive presentation outlining the Mi Kas Awor project.
Former Prime Minister and current FKP board member Gerrit Schotte during the presentation
The discussions come at an important stage for the housing program, which depends on cooperation between the government, financial institutions, developers, and other partners to address Curaçao's longstanding shortage of affordable homes.
Although FKP has not disclosed specific agreements reached during the meeting, the involvement of the banking sector is particularly relevant because access to mortgage financing is a central component of the Mi Kas Awor model.
Banks Have an Important Role in Housing Financing
Mi Kas Awor was introduced to create new opportunities for families who want to purchase their own homes but face financial obstacles, including limited savings, high housing costs, and difficulties qualifying for conventional mortgages.
Rather than relying exclusively on government-funded housing construction, the program seeks to combine public financial support with commercial bank financing, household savings, and private investment.
Under the proposed structure, government contributions would help reduce financial barriers while participating banks could provide mortgages to eligible applicants.
FKP has previously explained that the approach is intended to expand access to homeownership while creating a financially sustainable housing system.
The November 12 presentation to the Curaçao Bankers Association therefore represents another opportunity to engage institutions whose participation could be important to the program's implementation.
However, no announcement has been made confirming that individual banks have committed to providing mortgages under the program or agreed to specific lending conditions.
First Phase Targets 370 Families
According to previously published FKP plans, the pilot phase of Mi Kas Awor aims to assist as many as 370 families during its first year.
The program is divided into four categories, with assistance tailored to different household income levels.
Families with lower incomes could qualify for financial support intended to reduce the cost of purchasing a home, while households in higher income categories would have access to affordable housing and assistance with financing.
FKP has indicated that monthly payments under certain arrangements could start at approximately XCG 550, depending on individual eligibility and financing conditions.
The initial government and FKP financial commitment amounts to XCG 2 million, with resources expected to be incorporated into the 2027 budget.
The program is being developed against the backdrop of significant housing demand. FKP has previously reported that more than 16,000 families are registered in its housing system.
Its estimates also indicate that Curaçao needs approximately 870 new homes annually to accommodate population growth, while current construction levels remain below that requirement.
Major Housing Developments Planned
One of the first developments identified under Mi Kas Awor is Tera Kòrá, where FKP plans to construct 224 apartments in seven residential towers.
The proposed apartments would range from approximately 45 to 90 square meters, with green spaces and recreational facilities included in the development.
The Tera Kòrá project remains dependent on the necessary construction approvals and other implementation requirements.
FKP is also pursuing housing development at Wechi and several additional locations.
In October, the foundation presented the Board of Financial Supervision (Cft) with a development pipeline involving eight locations with projected capacity for more than 1,400 homes.
The foundation also outlined a longer-term vision that could create capacity for nearly 14,000 homes over 15 years, although those figures remain projections rather than approved construction commitments.
Realizing these plans will depend on financing, land availability, infrastructure, permits, and construction capacity.
Financial Cooperation Essential to Expansion
The banking sector's involvement is particularly important because Mi Kas Awor seeks to connect affordable housing development with practical financing opportunities for families.
For many prospective homeowners, the availability of a property does not automatically mean they can obtain a mortgage.
Household income, existing financial obligations, required down payments, and lending criteria can all affect access to financing.
FKP's proposed model attempts to address some of these barriers through targeted assistance and cooperation with financial institutions.
The meeting with the Curaçao Bankers Association follows earlier presentations to other institutions, including the Cft and Curaçao's Ombudsman, as FKP continues explaining the program's structure and objectives.
For the housing foundation, the challenge is now to translate its plans into financing arrangements and completed homes that families can afford.
The November 12 meeting marks another step in discussions with the financial sector, but further information will be needed to determine whether it results in concrete banking commitments.
With thousands of families seeking affordable housing, the success of Mi Kas Awor will ultimately depend not only on how many homes can be constructed, but also on whether eligible households can secure the financing needed to purchase them.