With the proposal, housing foundations can apply to become an admitted institution - an official status. They will then be under the supervision of the Housing Corporations Authority (Aw), which oversees housing corporations in the Netherlands. This supervision guarantees that the housing foundations are professional and financially sound organizations. A major problem on the islands is that housing foundations often can only take out loans with high interest rates and sometimes unfavorable conditions. This makes it difficult to build enough affordable houses.

With a status as an admitted institution, housing foundations can participate in the Social Housing Guarantee Fund (WSW). This fund guarantees the repayment of loans, known as guaranteed borrowing. For banks, this means they face less risk. Therefore, they can provide the loan with a lower interest rate and better conditions.

Due to better access to financing, housing foundations can build more social rental homes, improve the maintenance of existing homes, and invest in the livability of neighborhoods. This is urgently needed, as there is a significant shortage of affordable homes on the islands, especially for people with low or middle incomes. Thus, the proposal helps in the fight against poverty.

The Housing Act-BES will be a separate chapter in the existing Dutch Housing Act, but it has been adapted to the situation in Bonaire, Sint Eustatius, and Saba. This way, the proposal better aligns with what is needed on the islands.

This can be done until September 28, 2025, via the website for internet consultation.