Disbursement of COVID Relief Funds are Only Trickling in

The payout of loans applied for by government from various international financing institutions, including the Inter-American Development Bank, I.D.B., has been sluggish owing to the many processes that are undertaken following the application. PM Dean Barrow said at the start of the pandemic that he was expecting a hundred million dollars from COVID Relief.  Those monies have been earmarked for unemployment relief, as well as food programmes.  According to the FinSec, there are also plans to assist small and medium enterprises in the months to come. 

On the Phone: Joseph Waight, Financial Secretary

“Disbursement is more for, the programme that we have set up so far is for unemployment relief, there are some food programmes and if we know the money is coming we can, in a sense, spend knowing it’s going to be reimbursed.  When it comes to, I think the government is even thinking about small programmes to try to help small and medium enterprises but that’s a little further down the road.  But if you know money is coming in and there is a delay, let us say, at least you have the comfort that you know it’s coming and you can spend the little in advance.”

We’ll have more from the Financial Secretary later in the newscast.