As the sustainable development institution of the island, Korpodeko is much more than a lender or lender of last resource. Financing is one of nine statutory instruments at Korpodeko’s disposal to reach its objectives. Korpodeko also aims to support its clients and the community in general by providing guidance and education on matters related to entrepreneurship and personal development.
Korpodeko believes in the promotion and collaborations between various industries, companies, institutions and individuals in order to strengthen economic ties and activities; encourage the exchange and conservation of knowledge plus experience and inspire new economic activities.
In addition to financial products, Korpodeko also offers a number of incentive programs aimed at supporting local entrepreneurs and the local workforce to create synergies, “do good and do well”.
The objectives of Korpodeko as included in its Articles of Incorporation are:
- To promote a balanced autonomous and sustainable development of the island of Curacao in the socio-economic, cultural and educational fields.
- To promote participation in this development process by all citizens of Curacao
- To own shares in businesses and corporations
According to its Articles of Incorporation, Korpodeko seeks to achieve these objectives among others by performing or having the following activities performed:
- Creating a development fund that is earmarked among others to provide investment grants to entrepreneurs and provide loans to businesses;
- Guaranteeing loans/credits to establish or expand businesses;
- Acting as an intermediary in the financing of businesses;
- Preparing and implementing of development projects as well as industrial projects;
- Promoting industrial establishment on and development of the island of Curacao;
- Making recommendations in the socio-economic field in order to realize an effective synchronization of the development policy between the Foundation and the island of Curacao;
- Motivating and informing the population of Curacao through the media and education in the broadest sense of the word;
- Encouraging the promotion of Curacao as a business location;
- Promoting the establishment and sustainability of cooperative enterprises.
When it comes to lending Korpodeko has established its credit policy which identifies the economic activities, qualifying conditions and the products tailored to specific industries or needs of local entrepreneurs.
Economic activities that Korpodeko supports are:
Logistics are vital to any economy. The movement of people and goods is essential to promote and grow economic activity. Traditionally, Korpodeko has issued many loans in the local transportation industry for among others taxis and small passenger buses. Korpodeko has also provided financing for other logistics or logistics related projects. Korpodeko offers competitive interest rates and conditions for this economic sector.
Heavy Equipment Machinery/Factories/Manufacturing
Stimulating local production creates jobs and helps improve the Balance of Payments either trough import substitution or through exports. Korpodeko offers special loan conditions for existing and new companies that wish to invest in this sector.
Green and Alternative Energy Financing
Please refer to our KIP-Green for more information on our Green Financing Incentives.