A COVID-19 Economic Stimulus-Response Plan which seeks to

allocate funds to jobless residents, struggling businesses, hotels, taxi

operators, and other areas, has been delivered by Premier Andrew Fahie.

The majority of funds for the US$62.9 million plan, came

from the Social Security Board (SSB) and represents Phase Two of the

government’s stimulus-response to the COVID-19 pandemic.

According to Fahie, of the total package, $40 million was a

grant from the SSB while US$17 million was from the SSB’s Affordable Housing

Project.

An additional US$2 million grant was received from an

undisclosed source, and will go towards assisting with infrastructure.

The remaining funds amounting to US$3.9 million will be from

government’s coffers.

The BVI Premier said US$10-mllion will be channelled towards

unemployment relief support for persons who have been either laid off or placed

on reduced working hours or days because of the COVID-19 pandemic.

Premier Fahie added that US$6.5 million will be made

available to local businesses that were affected by the virus.

“Businesses that qualify for this grant will be expected to

put this funding to work and make a genuine effort to keep their staff

employed,” Fahie explained.

“These special business grants to help our local businesses

will be administered by a team comprised of representatives of the Ministry of

Finance, Premier’s Office and the Department of Trade, Investment Promotions

& Consumer Affairs,” he added.

Another area to benefit is the accommodation sector that

will be allocated one million dollars for hotels, guest houses, inns and villas

who were forced to close to visitors because of COVID-19.

The funds will go towards assisting with cash flow to

provide income opportunities for their employees and also to stimulate

opportunities for security services, food provisioning, and transport

initiatives.