The Government of Grenada is continuing to explore avenues of relief\u00a0 for persons who have been marginalised by the impact of the COVID-19 pandemic.<\/p>\n
Prime Minister, Dr. the Right Honourable Keith Mitchell, disclosed Wednesday that\u00a0 Government has secured a soft loan valued at US $8.95 million, at a variable interest rate\u00a0 of about 2.06%. The terms and conditions include a five-year grace period, with\u00a0 repayment over 20 years.<\/p>\n
The money will be disbursed by the Caribbean Development Bank, through a joint\u00a0 initiative with the Inter-American Development Bank, which seeks to build health, social\u00a0 and economic resilience in Grenada and other OECS countries.<\/p>\n
During his latest media engagement, the Prime Minister said, \u201cThe COVID-19 pandemic\u00a0 has marginalised many persons. Those of us who have continued to receive a salary\u00a0 throughout the pandemic, must understand that there are many who have been without\u00a0 an income for more than a year and they too have commitments and families that they\u00a0 need to take care of. While we do what we can to help those who are continuing to work\u00a0 but have difficulties, we have to spend a lot of time trying to help those who have nothing\u00a0 at all.\u201d<\/p>\n
Reiterating the various categories of workers who have been left without their livelihoods,\u00a0 the Prime Minister gave assurances that the Government has not stopped looking at ways\u00a0 to provide additional stimulus support.<\/p>\n
He explained that the Ministry of Finance has been working in collaboration with the\u00a0 Ministry of Social Development and some of the social partners to determine the\u00a0 categories of persons who can be supported through this initiative.<\/p>\n
The Ministry of Finance is working very closely with the Caribbean Development Bank in\u00a0 finalising the policy, proposals and format that will be used to implement the initiative.<\/p>\n
Dr. Mitchell disclosed that disbursements are expected to begin in August\/September.<\/p>\n","protected":false},"excerpt":{"rendered":"
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