THE ECONOMIC STIMULUS PACKAGE

The COVID-19 Economic Stimulus Package was approved by Cabinet to address the negative economic impact created by the Corona virus pandemic on the local economy. The primary objective of the ESP is to assist the productive sector players to maintain production output at all levels of the production value chain. This is to ensure the local economy remain afloat during this challenging time.

The stimulus package has three overarching guiding principles;

• Quick economic return; proposed activity for funding should have a quick turnaround preferably not more than six months
• Significant impact to the rural and national economy by encouraging income generating activities and employment. The proposed activity should employ a good number of people and contributes hugely to the national economy through taxes, business licenses, and growth in manpower resources.
• Platform for long-term economic recovery post COVID-19; sets the foundation for multiplier effect from economic activity, investment and growth.

TARGET AREAS

ESP Funding is available for agriculture, fisheries, tourism and forestry industries.