History

Ontwikkelingsbank van de Nederlandse Antillen N.V. (OBNA Bank) was established in 1981 with the objective of promoting the execution of projects that, in the opinion of the bank, are important for the economic development of Curaçao, Sint Maarten, and the BES islands. OBNA Bank is a joint venture of both the private and public sectors.

The idea of establishing a development bank for Curaçao, Sint Maarten, and the BES islands started gaining momentum in the 1970s when commercial banks generally did not extend long or medium-term loans to businesses, and certainly not at fixed interest rates. There was thus a need for a bank that would provide that kind of financing for the long term economic development of the islands of Curaçao, Sint Maarten, and the BES islands.

During that time, many other countries in and outside the Caribbean region started establishing state-owned development banks for the purpose of facilitating long and medium-term investments in their nations. In 1976, the first drafts for a development bank for Curaçao, Sint Maarten, and the BES islands were drawn up. After many studies and adaptations, the bank was finally jointly established by the private sector and the Curaçaoan government in 1981.