Valuable support extended

TDT | Manama

The Labour Fund (Tamkeen) is increasing the budget of its Business Continuity Support programme, as an ongoing incentive which underscores its commitment to continue providing support to the economic sectors most adversely affected by the global coronavirus (COVID-19) pandemic.

This was announced yesterday by Tamkeen chairman Shaikh Mohammed bin Essa Al Khalifa, who held a meeting with Tamkeen’s Board of Directors and chief executive Dr Ebrahim Mohammed Janahi, remotely. They discuss the labour fund’s strategic initiatives to minimise the impact of the repercussions presented by COVID-19 on the economy.

The step taken by Tamkeen is in line with the royal directives of His Majesty King Hamad bin Isa Al Khalifa to unite national efforts in confronting the repercussions of the global spread of COVID-19, and providing the necessary support to the Kingdom’s citizens and private sector.

It follows the decisions made by the government, led by His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa, and the directives issued by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier on this matter.

Shaikh Mohammed highlighted that the financial support provided to enterprises operating in the most-adversely affected economic sectors will be doubled and extended for another three months. The sectors include sport clubs, gymnasiums, beauty salons, restaurants and cafes, training institutes, and travel and tourism offices.

For his part, Dr Janahi noted that the financial support will be provided to enterprises most adversely affected by the global pandemic, whose applications have already been accepted within the first phase. Dr Janahi further noted that Tamkeen will review and take into consideration previous requests made by enterprises that were not covered by the support during the first phase, with the financial grants to be disbursed retroactively for the past three months, as of next week.

The first phase of Tamkeen’s Business Continuity Support programme was reviewed by the board, in which financial support was provided to more than 15,600 SMEs, along with taxicab drivers, public transport and bus drivers, driving instructors and kindergarten and nursery workers, benefiting more than 900 individuals to date.

The meeting also covered details on the total amount of financial support disbursed to date within the programme. The board members emphasised the importance of the support programme for these sectors in order to sustain businesses and operations during the current situation.

The support opportunities offered within the framework of the programme include the provision of financial grants according to the size of each enterprise, in proportion to the objectives of covering part of the basic operating costs of these institutions