Pay-outs for the Economic Stimulus Package (ESP) have recommenced. Permanent secretary in the Ministry of Finance and Treasury, McKinnie Dentana says the process of payment has resumed and will continue until all payments are done.
He says funding for ESP is still available and that SBD$206 million have been paid out already.
“SBD$100 million worth of funding or worth of approved projects is still available and is in the process of pay out”, Dentana says.
He says pay-outs are continuing for the sectors of fisheries, agriculture and tourism in the rural areas.
“We will finalize those in forestry especially in timber milling. That will be finalised this week and other agriculture activity like vegetable farming, livestock, this includes poultry and piggery.
“We already have an approved list but towards the end of last year, so many activities are in fisheries, tourism, kava and other agriculture activities. That’s why we put aside forestry and livestock to commence this year. We are now in the process of contacting people to come and sign their offer and memorandum of understanding”, Dentana says.
The allocated budget for the ESP is SBD$306 million.
The COVID-19 Economic Stimulus Package was approved by Cabinet to address the negative economic impact created by the Coronavirus pandemic on the local economy. The primary objective of the ESP is to assist the productive sector players to maintain production output at all levels of the production value chain.