ORANJESTAD (AAN) – Aruba’s Parliament has approved the creation of the Algemeen Investerings en Ontwikkelingsfonds (AIOF), establishing a national investment and development fund to finance long-term public investment projects across the island.
Prime Minister Mike Eman and Minister of Finance, Economic Affairs and Primary Sector Geoffrey Wever announced that the legislation was approved with the support of 11 members of Parliament. The fund will finance public investments using allocations from Aruba’s national budget and may also receive contributions from third parties, including the Netherlands and the European Union.
The AIOF is designed to support long-term investments in key sectors such as urban renewal, education, energy transition, climate resilience, sustainable housing, infrastructure, and emerging industries including commercial agriculture, fintech, the creative industry, and the blue economy.
The fund will be jointly managed by the Minister of General Affairs and the Minister of Finance. It will operate with its own dedicated budget, while financial administration will be handled by the Department of Finance and monitored by the Central Audit Service. Financial reports will be submitted twice a year and shared with the Aruba Financial Supervision Board (CAft).
Investment proposals submitted by government ministries will be evaluated by the Investment Evaluation Committee, which has been responsible for reviewing public investment projects since 2022. The committee will assess projects based on government priorities, feasibility, sustainability, effectiveness, and financial oversight before making recommendations.
The legislation also requires an independent evaluation after five years to measure the effectiveness of the fund. The evaluation report must be presented to Parliament, the CAft, and published on the government’s website.
According to Minister Wever, the AIOF provides Aruba with a sustainable financial instrument that will support strategic public investments and strengthen the country’s long-term economic development.
