500 stimulus cheques for businesses will be released this week- Premier Fahie
The Premier made the announcement on Wednesday, October 7, 2020, via his social media page.
He said: “Today it was a pleasure to see the smiles on the faces of so many business persons as well as to hear their words of gratitude towards their BVI Government upon receiving their cheques for the ongoing Government business stimulus initiative.”
“Since the beginning of this pandemic in March, your Government has been working to provide support to our people. We have spent millions of dollars to support persons who were affected by the economic impact of COVID-19 – and this economic impact is not unique to the BVI, but in all countries around the world,” he added.
Setbacks
The Premier further mentioned that the programme, which provides economic support for businesses affected by the COVID-19 pandemic, had its setbacks.
“Of course, there are bureaucratic processes that we must follow – we have no choice in that, there is no option for going around the bureaucratic processes which are there to ensure transparency and accountability. But, we are happy that persons have begun to receive their stimulus cheques,” he remarked.
His comments come on the heels of complaints from the business community that the process was cumbersome because of the ‘red tape’ that it had to go through.
In the meantime; however, Premier said, last week 30 businesses received their cheques and yesterday, October 7, 2020, another 70.
“By the end of this week we would have processed and released a combined total of 500 business stimulus grants out of the just over 1,000 business stimulus grants approved in the first phase,” he remarked.
In May, the Andrew Fahie-led administration earmarked $6.5 million grant relief programme for micro, small and medium-sized businesses.
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