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$62.9M Phase 2 Economic Stimulus Plan rolled out by VIP Gov’t

- $40M grant secured from Social Security Board
Premier and Minister of Finance Hon Andrew A. Fahie (R1) has announced a $62.9M Phase 2 Economic Stimulus Plan that has seen the allocation of funds to various sectors and initiatives. Photo: Facebook
The Virgin Islands Economic Stimulus Plan in response to COVID-19 has received an injection of $40M grant from the Social Security Board (SSB). Photo: VINO/File
The Virgin Islands Economic Stimulus Plan in response to COVID-19 has received an injection of $40M grant from the Social Security Board (SSB). Photo: VINO/File
ROAD TOWN, Tortola, VI- Premier and Minister of Finance Hon Andrew A. Fahie (R1) has announced a $62.9M Phase 2 Economic Stimulus Plan that has seen the allocation of funds to various sectors and initiatives.

The stimulus plan has received an injection of $40M grant from Social Security Board (SSB).

“Your Government has been trying to avoid touching our taxpayers' piggybank because we understand that the hurricane season is upon us, seismic activity in the area is continuing, and COVID-19 has not been eliminated, hence we have to leave room in case, God forbid, the BVI is struck by a disaster.

“Left with no alternative, your Government reached out to the Virgin Islands Social Security Board which has agreed to provide the people of the British Virgin Islands with a special COVID-19 grant in the sum of $40M towards our efforts in providing social and economic relief and stimulating economic activity. The Social Security Board is committed to strong leadership and prudent investment of funds. They have been able to accumulate funds to help out the Territory in its time of need,” Premier Fahie said in his live announcement of the plan this evening, May 28, 2020.

The Economic Stimulus Plan has also been boosted with a $17M grant from the SSB’s Affordable Home Construction Project and “another grant of $2M to assist with infrastructure.

$3.9M has been contributed by Central Government “to assist with other areas across the Territory.”


Premier Fahie also presented a breakdown of the monies allocated, some of which are mentioned below:

$10M of the $62.9M will go towards assisting persons made unemployed or caused to work reduced hours due to COVID-19.

$9M will be spent to get homes “watertight” for the hurricane season.

$7.5M will be given to National Health Insurance (NHI) "to ensure the health and safety of our people."

$6.5M will be disbursed to assist local business with the expectation they will try to retain staff.

$2M will be spent to assist farmers and fisherfolks.

$1M will be spent on some villas, hotels and guest houses to accommodate persons who would need to be quarantined on returning to the Territory.

$1M will go towards assisting daycares, private schools and churches.

$1M will be spent on “social needs” and $1M to pay taxi and livery operators who would be engaged for various purposes, including transporting persons for quarantine.

Additionally, all District Representatives and At Large Representatives will be given $300,000 each to assist their constituents in need. This is in addition to their usual allocation of funds.

More detail to follow.

41 Responses to “$62.9M Phase 2 Economic Stimulus Plan rolled out by VIP Gov’t”

  • Dornel Hazel (28/05/2020, 22:25) Like (9) Dislike (1) Reply
    Lost my job over scrubisland in March , how do I sign up to get some money?
    • @ Dornel Hazel (28/05/2020, 22:56) Like (11) Dislike (0) Reply
      Phone 852-7800 next Tuesday 2 June to get an application, which would be reviewed for eligibility.

    • I knew "you" hated him (29/05/2020, 09:08) Like (0) Dislike (1) Reply
      But I did not realize you hated him this bad.
      Clean your heart and the Lord will bless you with that very money you need.
    • TherealDornelleHazel (29/05/2020, 10:00) Like (5) Dislike (0) Reply
      If you're going to comment as me, you have one job and that is to spell my name correctly!! Thanks!
    • usurping (29/05/2020, 10:11) Like (0) Dislike (0) Reply
      there's no way that's Dornelle Hazel. i can put my neck on the chopping block for this one.
  • tola (28/05/2020, 22:52) Like (20) Dislike (3) Reply
    I dont want hear buh island people this and that cause they pay tax too.
    • Norris Turnbull (29/05/2020, 00:50) Like (22) Dislike (1) Reply
      @tola... you dont want to hear about island people this and that, why the hell YOU bring it up?
    • ?? (29/05/2020, 05:44) Like (6) Dislike (0) Reply
      @ tola

      I am from the 7th and Tolian and neutral. I agree with you @tola. We are forgetting that an economy stability is based on the number of employable and employed persons, organisations engaged, and volume of buying and selling by the employed. Sudden contraction in the economy of population numbers is detrimental. This is the reason why closed businesses need to reopen, the daycare centers and primary schools so the economic activity could restart close to normal levels. This is the time to start new businesses too. The move by the Minister of MNRLI was a good one to give work permit holders time to get a new job and Govt stimulus package for businesses would be helpful. To graduates from high school and college, please take what you can get job until you can get what you really want later. This is no time to be picky. We are in a period of fighting just to live because of the greedy and selfish 1% who are dominating this world including Bill Gates their puppet!
    • Too early for crap (29/05/2020, 06:40) Like (4) Dislike (1) Reply
      You all always starting confusion. You must be guilty of something that will disqualify you. Make sure their taxes were paid in whether they are locals or expats. Stop looking for trouble.
  • Not funny man (28/05/2020, 23:14) Like (12) Dislike (7) Reply
    Now who going beat the vip government
  • get it while you can (28/05/2020, 23:20) Like (15) Dislike (8) Reply
    Money ain’t gonna help you in the long run, when this agenda is finished playing out you’ll see what I mean
    • Restaurants and Hotels (29/05/2020, 01:08) Like (16) Dislike (0) Reply
      Investigate, investigate, investigate before you gave our monies away, they are going to lie, n lie, n lie to get our money while they stil victimize their staff...It Would be a Sin for the bosses to use this money to get increases and full salaries while staff are still laid off....
    • We in trouble (29/05/2020, 01:11) Like (10) Dislike (0) Reply
      Dont kno if i should rejoice or cry...As good as this sounds it may just benefit those that dont need.. While those in Need still suffer....Will watch and see...
    • Simple as ABC (29/05/2020, 01:16) Like (11) Dislike (0) Reply
      Before a company gets any money all staff that got fired, laid off, because of the virus must return to work even if its just for 4 hrs a day....Every mouth shall be Fed....The companies that dont comply get no stimulus money...This money must make a difference in all affected people's life...
    • @get it while you can (29/05/2020, 07:49) Like (0) Dislike (0) Reply
      OK we got you now tell us what to do before this agenda finish. Talking ain't helping me.
  • We the People Cry Foul (28/05/2020, 23:22) Like (9) Dislike (22) Reply
    This 'stimulus' may fool some, but those who can see know this 'stimulus' is a slap in our faces.
  • Agenda 2030 (28/05/2020, 23:34) Like (14) Dislike (8) Reply
    “They don’t care about money anymore, it’s a global plan for power, control and depopulation”
    • @Agenda (29/05/2020, 07:51) Like (6) Dislike (1) Reply
      Please tell me how to get a new job and pay my bills or shut up!
  • do the math (29/05/2020, 00:02) Like (7) Dislike (1) Reply
    $1 million for taxi drivers. Let's say that 100 citizens return and go into quarantine. That's $10K per person! Even to West End, that's got to be the most expensive taxi ride on earth! Will the local airline get anything to fly them to VG or Anegada? Your pension money.
  • Guest (29/05/2020, 00:49) Like (6) Dislike (0) Reply
    6.5 million to local businesses? How is that allocated or shared? What are the requirements and how do the taxpayers get this money back??????
  • Raquib (29/05/2020, 00:51) Like (4) Dislike (0) Reply
    Things that makes you go Hmm.
  • Feel N Good (29/05/2020, 01:03) Like (3) Dislike (0) Reply
    This is Great... Im a belonger that got laid off...The Restaurant is open and staff are back to work...Yet i havent gotten a call to return... Yet all the work permit staff are back to work...How would this work in regards to people and situation like mine?
    • L**s (29/05/2020, 07:58) Like (0) Dislike (1) Reply
      Majority or all of the charter companies and other companies and businesses are closed for now they had lots of persons with work permit working for them, so how can you say all work permit holders are back to work.
      • @Lies (29/05/2020, 19:00) Like (1) Dislike (0) Reply
        Comprehension! The person is speaking specifically about their work place!!!
    • True (29/05/2020, 08:50) Like (3) Dislike (1) Reply
      there is a subsection in the labour code that states, Belongers need to be retained above everyone else, so if someone at the place you work is doing the same job as you do they are breaking the law.
  • Really Downtown (29/05/2020, 07:36) Like (10) Dislike (1) Reply
    Stop complaining people you all asked for a plan u got one. Now do what you have to do.
  • musa (29/05/2020, 07:41) Like (0) Dislike (0) Reply
    Hello team be careful with your budgeting ,most of us have that issue.
  • priest (29/05/2020, 07:45) Like (12) Dislike (0) Reply
    $40M was taken from the SSB. This is the life savings of many people. Why not pass Legislation would give the Director of the Board to give small monetary packages those persons who have been contributing to the SSB are now unemployed and are up to date? They should be in a better position to make that call and in my opinion deal fairly with people across the board. Furthermore what about employers who for years have been taking out contributions from their employees like Social Security, NHI, and taxes and have not deposited them to the designated authority. Would they qualify to received stimulus packages (money) from the SSB, while still in violation?
  • Eyes Wide Open (29/05/2020, 08:04) Like (11) Dislike (6) Reply
    I told you all stay woke. Dont be fooled be this current administration. Stimulus where?
  • Still Tongue Wise Head (29/05/2020, 08:18) Like (4) Dislike (1) Reply
    Well with all this monies sharing out (which i am not against because its always said all mouths should be fed, so tell me the same energy given to this to find monies why a way wasn't set up to find monies for Increments owed since 2017?
  • Bail out (29/05/2020, 08:29) Like (5) Dislike (0) Reply
    Standing finance indicated last year NHI was in the red 6.46m. Now they are given 7.5m. This is a bail out. Not a stimulus.
    • 2020 (29/05/2020, 09:12) Like (5) Dislike (0) Reply
      It is a rolling bail out. Put in the 7.5 they positive, then they go in the red again and put in another 7.5 ... only delaying the inevitable
    • @ Bail out. Agree (31/05/2020, 12:08) Like (0) Dislike (0) Reply
      NHI need restrcturing...renegotiating...Too many high paying heads,...Medical agreement cost too high..
  • Windy (29/05/2020, 08:53) Like (4) Dislike (2) Reply
    Stimulus— relax the curfew to 10pm ! Please the restaurant businesses can’t make it without decent dinner hours
  • Calculations??? (29/05/2020, 09:14) Like (5) Dislike (1) Reply
    MY GOOD PEOPLE. I dont understand, can someone please explain to me How this adds up to 62.9M
  • Negus (29/05/2020, 09:27) Like (10) Dislike (1) Reply
    Always be positive and look for the good and the lesson in everything. Learn to stop complaining and instead show gratitude for what you have. Because when you complain you will attract more of what you are complaining about. But when you express gratitude you will attract more of the things you are expressing gratitude for.
  • Eagle Eye (29/05/2020, 09:28) Like (3) Dislike (1) Reply
    Get rid of this curfew, yall think the people is your pets. Any police tase me it will be covid 40 spreading up in this.
  • Need clarity (29/05/2020, 09:46) Like (5) Dislike (1) Reply
    So tell me something if people are getting grants why does Electricity Bill's still need to be included in the stimulus...why not just let persons pay their Bill's from the stimulus grants...this is like crippling the whole economy even more...remember hurricane season is I hope if BVIEC needs financial assistance that they will get some stimulus money tooo...after 2017 that place never recovered financially....and we are here once again. I pray that we have no impact from any storms this season...because the bottom will fall out.....the Grant's should be used to pay their own bills....they already get free water free food which are the main now they will be getting electricity rent etc.paid....dont get me wrong people need help but I feel this is overreaching a bit too much......
  • Tri-P...Opposi... (29/05/2020, 10:30) Like (0) Dislike (0) Reply
    Is it me only , or others were not just hearing but LISTING KEANLY to our UNCONVENTIONAL Premier, never once he used the phrase "YOUR UNCONVENTIONAL Government or YOUR NEW Government"
  • 7 Wonders (29/05/2020, 13:41) Like (2) Dislike (1) Reply
    $1M will go towards assisting, private schools and churches.

    They are overflowing with money, what charitable donations have they ever given to the community of those in need?

    $2M will be spent to assist farmers and fisherfolks.
    They were able to carry on business as the supermarkets whom made a killing from this crisis

    $1M will be spent on “social needs”
    What social needs? Needs elaboration

    I wish that the chunks of money taken from my salary is put to better use than wasting on fart or simply stop deductions from my money
  • Mr primier this is Good n Godly (31/05/2020, 12:17) Like (0) Dislike (0) Reply
    I have one fear... Im talking from experience. Do not let these companies scam you, or out smart your reresentatives...Get a list of all workers that was laid off... See who is at work and who is still at home and their status....I will suggest you send your people to talk to the staff. Before you dishout monies to companies, you will get more of whats really going on, the truth from regular staff than you will get from the managers or owners.... Dont allow this good Godly gester to fail....Thank U...

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