Frequently Asked Questions
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Who is eligible for TPEF funding?
Any entity whether it is a foundation or company that possesses an active registration at the Aruba Chamber of Commerce.
Which criteria should Project Proposals meet to be considered for funding?
The Tourism Product Enhancement Fund invests in projects that has the overall objectivity to elevate the Aruba tourism product.
There are 6 categories an applicant can inquire from when submitting a proposal:
- Investments
- Attraction
- Safety
- Environment
- Heritage
- Awareness
Which documents are required to be submitted by an applicant seeking funding?
- Detailed Project Proposal- specifying the project target and scope, this should clearly list the objective of the project and how it fits within the areas of funding of the Tourism Product Enhancement Fund
- Chamber of Commerce Registration
- Copy of a valid ID of entity’s President/ Director
- Code of Good Conduct document (Entity’s President/Director)
- Acknowledgment of Fiscal Conduct (Entity’s President/Director)
- “Persoonsnummer” of the applicant
- Budget Cost Breakdown
- Official Bank Account of the applicant signed by Bank Officials
What is the difference between a project proposal submission and a submission of Request for Expression of Interest
The definition of Project Proposal for TPEF is when an entity whether a company or foundation would like to be considered for funding and will submit a project pitch to the TPEF board and Ministry of Tourism.
A Request for Expression of Interest (REOI) is when the Ministry of Tourism and the TPEF Board already has funds allocated towards a specific project scope and it is requesting a REOI on the specific project so they on their end can be considered as the executing stakeholder of the specific project
In which language should Project Proposals be submitted?
Project Proposals should be submitted in English which is not only the universal language but also the main language used throughout Aruba’s tourism industry
How is the Project Evaluation Process?
Once a Project Proposal is submitted the TPEF Board will first evaluate the relevancy of the project within TPEF’s funding scope.
Following the Board will issue an advice to the Minister of Tourism for the project to be considered or not
Once the Ministry of Tourism receives TPEF’s board approval on the submitted project proposal, it will continue into all its phases of development.
It also highly likely that the TPEF Board will invite the applicant to give a project -pitch- presentation to the board and in some cases as well to the Minister of Tourism.
Throughout the entire application process the TPEF Project Manager will be the main point of contact between the applicant and the TPEF Board.