The Netherlands and Aruba join forces to improve access to financing for SMEs.
ORANJESTAD—Aruba and the Netherlands have taken a significant step to strengthen small and medium-sized enterprises (SMEs) in Aruba.
On August 13, State Secretary Mr. Eddie van Marum, Minister of Finance, Economic Affairs, and Primary Sector Mr. Geoffrey Wever, Deputy Prime Minister and Minister of Kingdom Relations, Education, Youth, Innovation, and Sport Ms. Gerlien Croes, and Prime Minister Mike Eman convened a working meeting.
Aruba has approved the implementation of the new SME Loan Guarantee Scheme for Aruba, Curaçao, and Sint Maarten (BMKB ACS).
The scheme, based on the successful Dutch BMKB scheme, offers Aruban entrepreneurs better access to capital by providing financial institutions with additional security when issuing loans.
This can be particularly beneficial for entrepreneurs who lack sufficient collateral to obtain financing. Eddie van Marum, State Secretary for Kingdom Relations and Digitalization, emphasized the importance of the program:
[“A strong and innovative SME is the engine of economic growth and employment. With this program, we help lower barriers to financing so that Aruban entrepreneurs can realize their plans, invest in innovation, and contribute to a sustainable future for Aruba.”]
With the implementation of the BMKB ACS, the Netherlands Enterprise Agency (RVO.nl) can now make agreements with interested financial institutions in Aruba. This paves the way for entrepreneurs to gain easier and faster access to the financing they need.
Prime Minister Mike Eman also welcomed the agreement:
[“This is a concrete step to support our entrepreneurship and create new opportunities for economic growth. SMEs are the backbone of our economy, and with this program, they receive the support they deserve.”]
The BMKB ACS program contributes to strengthening the entrepreneurial climate in the Caribbean part of the Kingdom and serves as an example of fruitful cooperation between the Netherlands and Aruba in the interest of sustainable economic development.