GOVERNMENT’S COVID19 FISCAL PACKAGES BENEFIT 494 PERSONS AT A VALUE OF $800,000

Release Date: May 27, 2020

The Government of Montserrat through its packages of financial support for businesses impacted by measures to contain the spread of COVID-19, has so far provided over eight hundred thousand dollars (EC$800,000) in financial assistance to successful applicants across all sectors.
 

Seven hundred and twenty three thousand, six hundred and twenty-six dollars ($723,626) has been approved in financial assistance under the ‘Tourism Sector COVID19 Salary Support’ and the ‘COVID19 Salary Support Across All Other Businesses’ packages being implemented by the Ministry of Finance and Economic Management. Additionally, seventy six thousand, three hundred and seventy-five dollars (EC$76,375) has been approved in the form of one-off grants for businesses, under the Tourism One-Off Grant Porgramme. The first two packages have benefited 444 employees, while the Tourism Grant has supported 50 businesses.
 

Premier and Minister of Finance, Hon. Joseph E. Farrell made the announcement today (May 27) during a Government Press Conference.
 

“Under the Tourism Sector COVID19 Salary Support Package; 44 businesses applied covering 149 employees, 23 businesses were successful supporting 75 employees. Government of Montserrat has awarded a cash injection to a value of $106,099 per month, under this incentive package,” stated Premier Farrell.
 

Under the COVID19 Salary Support for businesses across all other sectors, the Premier said 140 businesses applied covering 510 employees; of this, 90 businesses were successful supporting 369 employees. He also said, “Government of Montserrat has awarded a cash injection to a value of $617,527 per month, under this initiative.”
 

To date, $723,626 has been approved in financial assistance across both sectors supporting 444 employees at 80% of their salary.
 

As it relates to the Government one-off tourism grant programme, only 8 business were not successful under this incentive package.
 

Premier Farrell said “58 businesses applied; and 50 of those businesses were successful; and have been awarded a grant. To date, $76,375 has been approved in the form of one-off grants.
 

The fiscal stimulus packages were first announced in early April as Government announced measures to cushion the economic impact of the COVID-19 pandemic on the local business sector.
 

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