The Grenada government on Tuesday said it intends to spend more than EC$20 million in grants and loans to individuals and owners and operators of micro, small and medium (MSM) businesses in the third phase of the COVID-19 Economic Stimulus Support Package.
Grenada’s Mobilization, Implementation, and Transformation Minister, Andy Williams, said that the third phase of the support is being reformatted to give those who will benefit a “hand up instead of a hand-out.”
The COVID-19 stimulus support began in 2020 during the previous administration.
Grenada’s Prime Minister Dickon Mitchell said that the third phase will provide EC$3.1 million to the Support for Empowerment Education and Development programme in the Ministry of Social Development.
There will also be EC$2.2 million provided for the temporary unemployment benefit aspect of the stimulus package while EC$30,000 in loans will be provided to an unlimited number of MSM businesses in the formal and informal sectors.