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Curacao

Government and institution measures in response to COVID-19.

Government and institution measures in response to COVID-19.

Return to homepage  |  Last updated: 29 April, 2020

Economic stimulus measures

(e.g. loans, moratorium on debt repayments…)

The RMR have made the following decisions

  • For the time being Curacao will receive financial aid for the loss of income and the measures to save jobs. The money available is Nafl. 105 million for April 2020 and Nafl. 72 million for half of May 2020. This means a total of ANG 177 million for the next six weeks. The financial aid is in the form of a loan for two years, the so-called ‘bulletlening’, at 0% interest. After two years the aid will be refinanced and the period of amortization and other appropriate criteria will be discussed.
  • Cft. will monitor the appropriate administration of and the application for the financial aid available, paying special attention to efficiency and avoiding bureaucracy.
  • With regard to the package of aid measures in its totality, which is Nafl. 755 million according to the calculations by the ‘Noodfonds’ committee, the countries will continue to hold intensive talks the coming periods in order to reach structural agreements. The government has requested the financial aid partially in the form of a gift (‘schenking’) by stating article 36 of the Constitution, which is: ‘steunend op eigen kracht, doch met de wil elkander by te staan (relying on one’s own power but with the will to assist each other’).

Employment-related measures

(e.g. state compensation schemes, training…)

The support package

The support package joined to the Relief Package that the government introduced in the past consists of:

  • An emergency package to help companies to keep workers in paid jobs
    • Help for an employer to cover between 20% and 80% of the monthly salaries of his employees if the estimated loss of his income is above 25%. The condition is that the employer must keep his employees in a permanent job (vaste dienst).
  • Support for individual companies
    • Nafl. 1335,- a month for small businesses and people who have a business without employees. Priority will be given to sectors seriously affected, such as public transport, the horeca, retail sales, advertisements and entertainment.
  • Compensation for people who have lost their jobs
    • All employees who have lost their jobs as from 15 March 2020 will be compensated with maximally Nalf. 1000,- a month.
  • Social payment to survive
    • A compensation of a maximum of Nafl. 450,- a month for people claiming social security. They be permitted to find a job again when it is possible
  • Support for micro, small and medium-size businesses
    • A credit up to Nafl. 100.000 with adapted conditions in order to finance the permanent expenses of micro, small and medium-size businesses in the sectors seriously affected.
  • Compensation for organizations and persons offering support and care
    • A compensation for organizations which and people who care for the elderly, the disabled, families with children.
  • The ‘Commissie Noodfonds COVID-19’ will continue to work and to organize the implementation of the Support Package, while the government is handling the local funds and the requests made to the Dutch government.

Other measures and sources