The Government of Grenada, Ministry of Finance COVID -19 Economic Support Secretariat is pleased to announce the launch of the third phase of the Stimulus Package which will run from September 1st – December 31st, 2022.
This third phase of the stimulus package will take a new format by targeting new and existing small businesses through the provision of Economic Support in the form of capital incentives and concessions to successful applicants. The main goal of this stimulus package is to encourage business growth and expansion for individuals who are interested in beginning a new business or expanding an existing one. The government believes that investing in our homegrown businesses can boost our economy and the morale of our people by empowering them to support their families, employ persons, and contribute to community building in a significant way.
In addition, the Unemployment Benefit Assistance program will be extended for the period August – December 2022. In addition to the extension of the Supplementary SEED Program which will be extended for the period September -December 2022 with the inclusion of beneficiaries from the island of Carriacou & Petite Martinique.
The CESS program is funded by the Caribbean Development Bank (CDB)through a soft loan of US$8.95 million.
About the Caribbean Development Bank
The Caribbean Development Bank is a regional financial institution, which was established by an Agreement signed on October 18, 1969, in Kingston, Jamaica, and entered into force on January 26, 1970. The Bank came into existence for the purpose of contributing to the harmonious economic growth and development of member countries in the Caribbean, and promoting economic cooperation and integration among them, having special and urgent regard to the needs of the less developed members of the Region.
The Bank invests in the economic and social development of its Borrowing Member Countries. These investments, geared towards poverty reduction, span sectors such as agriculture and rural development, energy, and water and sanitation.