With this money, a so-called revolving fund is being established in which local banks and pension funds participate. This should lead to better results and more self-reliance for the islands. Secretary of State Zsolt Szabó (Digitalization and Kingdom Relations) informed the House of Representatives today about his approach, in which an important role is reserved for the private sector.

Secretary of State Szabó: “I want to see more results than so far. From now on, we will do it differently. By directly involving private parties, more space for investments from entrepreneurs is created. This stimulates the economy and directly contributes to economic self-reliance, which I consider essential for the future of the islands, alongside good governance and solid finances. This approach can also be applied within other economic sectors and with civil society. This is a real game changer for the islands: together with entrepreneurs, civil society, and local governments, this approach is a great opportunity to really get it right. My ambition is to make this a catalyst for future investments on the islands.”

The cabinet has previously announced that it will allocate 24 million euros for food security on the six islands. The islands in the Caribbean parts of the Kingdom are heavily dependent on imports for their fresh food. This is not only expensive for the residents, but it also makes the islands vulnerable to external influences, among other things due to high import tariffs, strong exchange rates, or natural disasters. Producing food locally makes fresh food affordable, stimulates the economy, and increases self-reliance.

Secretary of State Szabó: “Entrepreneurs play a crucial role in this. They are responsible for local initiatives and the necessary innovation. We are going to make this possible now. Not with isolated projects, but with a well-thought-out and results-oriented approach. We will also involve knowledge institutions that can help entrepreneurs with innovative applications and further disseminate the acquired knowledge. A specially established academy will contribute to this.”

A significant bottleneck for entrepreneurs on the islands is access to capital for investment. Especially for entrepreneurs in the food production sector, it is difficult to obtain financing to start, grow, or innovate a business. To address this issue, a so-called revolving fund is being established, which will be housed in an external foundation. The available budget will be increased as private parties, such as banks and pension funds, can also participate in the fund. The foundation will offer low-interest loans to entrepreneurs producing fresh food. This ensures a long-term, innovative, and effective use of the resources. In this way, both private food production and entrepreneurship on the islands are stimulated. In the second half of 2025, companies can apply for a knowledge voucher worth 5000 euros. They can exchange this voucher at a knowledge institution for knowledge and advice, for example, on ways to increase productivity and efficiency.

A portion of the funds will be used through local governments to create conditions that should contribute to food security. In this way, investments can be made in infrastructure, water management, or the storage of fresh goods.

The plans will be further developed in the coming period, and it will also be determined how the funds made available by the cabinet will be distributed. The aim is to open the foundation and the counter for local government initiatives at the beginning of 2026.

Letter to Parliament: Increasing Food Security in the Caribbean Parts of the Kingdom