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The Ministry of Finance and Economic Management (MFEM) has paid out the first batch of payments for businesses that have applied for the Small Business Grant (SBG) has been made for the month May, June, July and August.
A total of 2620 applicants under the Small Business Grant (SBG) and a total of 101 applicants under the Wage Subsidy Scheme have been submitted, out of the identified 422 eligible businesses for the Wage Subsidy Scheme.
The ministry said it is important for businesses to understand that the Department of Finance and Treasury will process payments of applicants after assessing that businesses have met the eligibility criteria set by the Council of Ministers for each Schemes and verifications have been made with licensing authorities on license numbers.
For businesses that have applied for the Wage Subsidy Scheme, once the Department of Finance & Treasury have confirmed with the Vanuatu National Provident Fund that they are actively paying their employees contributions, their payments will be processed.
Payments under this scheme will not be made to employees. The Government will only refund businesses that have paid their employee contribution for the month of May to December 2021.
The government established the stimulus package to address cash flow issues faced by distressed businesses, decline in both employment and actual take-home wages (leading to economic hardships faced by workers and their families), decline in production.
The government has approved three Programmes under the Second Stimulus package including Small Business Grant, Wage Subsidy Scheme and Special COVID-19 Banking Facility.
