The Agrifund project, executed by Qredits Aruba, is paving a revolutionary path for agriculture in Aruba, introducing AgriLoan as a means to strengthen and diversify the sector.

Qredits Aruba, along with the Ministry of Economic Affairs, Communication, and Sustainable Development, represented by Mr. Geoffrey Wever, with support from the Ministry of Transportation, Integrity, Nature, and Elderly Affairs, represented by Ursell Arends, launched this project to complement Agrifund and provide guidance to enhance entrepreneurship in the agriculture sector. An initiative making a significant difference in the lives of local farmers and the promising future it is creating for agriculture in Aruba. One year after the official launch of this project, Nathaly Harms from Qredits Aruba reviews the inception, achievements, and future vision.

“Agriloan” is a commercial loan of up to AWG 200,000 for new or existing entrepreneurs in the agriculture sector in Aruba. This commercial loan is offered at a reduced interest rate of 2%, enabling farmers to make the necessary investments. This financial product will help commercial farmers overcome one of the biggest challenges in the sector, which is access to adequate financing. The reduced interest rate of 2% is suitable for the agriculture sector, which carries significant risks and specific needs and challenges. This includes substantial investment sums required to start or expand, the use of technology and innovation, production cycles, and climate risks. Additionally, a reduced interest rate benefits commercial farmers by reducing financing expenses, resulting in more cash flow for their businesses.

An individual or "hobby farmer" may have different motivations for engaging in agriculture, such as a passion for cultivation, a tradition passed down through generations, food security, or opportunities to generate additional income. Like every entrepreneur, the commercial farmer has a passion for what they do, a concrete vision for the future, and takes risks for their own business. In early 2023, the "AGRI Business Academy" educational program was launched to stimulate entrepreneurship in this sector.

"In March 2023, Qredits Aruba, together with the Ministry of Economic Affairs, Communication, and Sustainable Development, with the support of the Ministry of Transportation, Integrity, Nature, and Elderly Affairs, announced the start of the "Agrifund" project and the new financial product, "Agriloan", was officially launched. It took two years of collaboration and work between Qredits Aruba and the Government of Aruba to realize Agrifund. To incorporate Agrifund, the Aruban Development Bank N.V. was identified, an old company of which the Government of Aruba was the sole shareholder and which had been inactive for years and had the right to a sum of approximately AWG 1,200,000 as the appropriate way to reach "Agrifund". After a long process, access to the sum of approximately AWG 1,200,000 was regained and Aruban Development Bank N.V. was converted into Aruba Agri Development Corporation N.V., with the goal of stimulating commercial agriculture in Aruba."

Qredits Aruba supports entrepreneurs in the agriculture sector through "coaching" sessions, where our local experts provide personalized advice, helping entrepreneurs optimize their operations for sustainable growth in this sector. Qredits Aruba also offers "workshops" covering relevant topics for this sector, such as Marketing, Sales, Distribution Channels, Tax, Administration, Personal Effectiveness, etc. Additionally, the AGRI Business Academy is an essential educational program that equips participants with knowledge and skills to be successful in the agriculture industry. Through a structured curriculum, participants gain an understanding of various aspects of business management in the agriculture sector.

In Aruba, the climate and access to land present challenges for traditional farmers. However, today commercial farmers have various alternatives for innovative methods such as "Hydroponics" and "Aquaponics" systems that offer efficient ways with controlled environments to grow different types of vegetables and fruits. This includes lettuce, tomatoes, as well as various micro-greens. In Aruba, mushrooms and strawberries are also cultivated using different "indoor farming" techniques, so the possibilities for cultivating different types of fruits and vegetables are significant, even in Aruba's climate.

With the introduction of "Agrifund", coupled with support and guidance in the entrepreneurial area, Qredits Aruba envisions positive development in the Agriculture sector that will have a significant impact on Agriculture as a potential economic pillar of Aruba. Qredits Aruba aims to see diversification and innovation as fundamental aspects of this development.