BRITISH VIRGIN ISLANDS-ECONOMY- Premier delivers multi-million COVID-19 stimulus response plan.


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.

Premier Andrew Fahie

According to Fahie, of the total package, $40 million was a grant from the SSB while $17 million was from the SSB's Affordable Housing Project.

An additional $2 million grant was received from an undisclosed source, and will go towards assisting with infrastructure.

The remaining funds amounting to $3.9 million will be from government's coffers.

The Premier said $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.

The Premie added that $6.5 million will be made available to local businesses that were affected by the virus.

'Businesses that qualify for this grant will be...

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