Recipients for the economic stimulus package are expected to be contacted this week.
Coordinator of the ESP Committee, Trevor Manemahaga says now that data is available, they are hoping to announce the names of recipients from the different sectors starting this week. He says the committee received more than 16,000 applications.
He says the huge number of submissions has posed a great challenge for the committee. Manemahaga says the verification process took longer than they anticipated, thus the delay in the roll out of ESP for applicants.
The primary objective of the ESP is to assist the productive sector players to maintain production output at all levels of the production chain. The ESP has three overarching guiding principles including:
1. Quick economic return, which means the applicant’s proposed activity for funding should have a quick turnaround preferably not more than six months;
2. Significant impact to the rural and national economy by encouraging income generating activities and employment. This means the proposed activity should enjoy a good number of people and contributes hugely to the national economy through taxes, business licenses and growth in manpower resources;
3. Platform for long term economic recovery post covid-19 which sets the foundation for multiplier effect from economic activity, investment and growth.
Submissions were made in the areas of agriculture, fisheries, tourism and forestry industries.
The Covid-19 ESP was approved by cabinet to address the negative economic impact created by the coronavirus pandemic on the local economy.