THE HAGUE – The foundation that will manage a new fund aimed at strengthening food security in the Caribbean part of the Kingdom will be called CariFoodFund. The fund is expected to become operational by mid-year with an initial capital of €18 million.
CariFoodFund is designed to reduce the Caribbean islands’ heavy dependence on imported agricultural products by supporting local food production. The fund will provide entrepreneurs in agriculture, horticulture, livestock farming, and fisheries with access to financing on favorable terms, combined with technical knowledge and guidance.
The Dutch cabinet is contributing €18 million as start-up capital. This amount is intended to be supplemented by investments from local banks and pension funds, for which several letters of intent have already been signed. In addition to financing, the foundation will establish a dedicated “Academy” offering training, coaching, and knowledge exchange for both starting and established entrepreneurs in the food sector.
Alongside the investment fund, an additional €6 million has been made available for subsidies and contributions to local governments on the six Caribbean islands. These resources are earmarked for policy initiatives that support food security, including investments in infrastructure, water management, and cooling and storage systems for food.
The idea for a dedicated fund to support agricultural initiatives was announced in May last year by then State Secretary for Kingdom Relations Zsolt Szabó, as part of broader efforts to enhance economic self-reliance in the Caribbean.
CariFoodFund’s headquarters will be located in European Netherlands and staffed by a director and a small team of professionals. On the islands, business advisors will be appointed to screen financing applications and maintain close contact with local entrepreneurs. Of the three members of the supervisory board, at least one will be from, or professionally active in, one of the six islands. According to the recruitment agency involved, interest in these positions has been strong on both sides of the Atlantic.