Solomon Islands: The government’s Economic Stimulus Package extends to rural farmers and youths.

It has been reported that the primary objective of the government’s Economic Stimulus Package (ESP  is to assist the productive sector stakeholders to maintain productive output at all levels of the production chain and encourage communities to take part in livelihood activities in their rural communities and to contribute to the economic development of the country.

"All youths and rural farmers in the country are encouraged to apply for assistance from the COVID - 19 ESP."

It is expected that all those that qualify for ESP assistance will make the best us of the opportunities presented and ensure the predicted outcomes are achieved.

The SIG has made it clear that the ESP is mainly a relief package for struggling entrepreneurs in the areas of agriculture, fisheries, tourism and forestry to maintain and boost production output at all levels of the production value chain.

The ESP has three overarching guiding principles including:

1. Quick economic return, which means the applicant’s proposed activity for funding should have a quick turnaround preferably not more than six months;

2. Significant impact to the rural and national economy by encouraging income generating activities and employment. This means the proposed activity should employ a good number of people and contributes hugely to the national economy through taxes, business licenses and growth in employment;

3. A platform for long term economic recovery post covid-19 which sets the foundation for multiplier effect from economic activity, investment and growth.

The deadline for submissions is no later than 5 June

News sources: GCU and Solomon Star News.

Yours sincerely

Frank Short

www.solomonislandsinfocus.com