Monetary provisions for the helpless, support for the disadvantaged, and for those who face urgent, temporary, difficulties, are now available as the Government of St. Vincent and the Grenadines make provisions for the roll out of income support packages.
The announcement was made on Wednesday by Minister of Finance, Camillo Gonsalves, during a media conference at Cabinet Room.
The provisions come, following the approval by Members of Parliament, of a multi-million dollar stimulus package, which contains strategic and targeted measures for economic support and recovery.
One of the packages include the National Insurance Services unemployment benefit.
Minister Gonsalves also indicated that most of applicants were from the tourism sector and the education sector.
13 to15% of Vincentians will benefit from the covid-19 income support package and the finance Minister said the unemployment budget costs approximately 2 million dollars.
The multi-million dollar Stimulus package will be sourced from a number of international and local agencies, including the World Bank, The IMF, The United Arab Emirates, The Bank of St.V incent and the Grenadines, The Contingency Fund of the Government of St. Vincent and the Grenadines, as well as other financial institutions and bondholders. Other sources of income, will also come from the Eastern Caribbean Central Bank (ECCB), the National Insurance Services (NIS) and the Eastern Caribbean Group of Companies as well as other locally-based financial and other companies.
