Financial aid success

TDT | Manama

More than 10,000 small and micro enterprises have been paid the financial grants under the Business Continuity Support Programme of Labour Fund Tamkeen. This is according to Tamkeen CEO Dr Ebrahim Mohammed Janahi, who noted that the programme’s application period ended yesterday.

Dr Janahi said that the evaluation process is still in progress for some institutions that have applied for support, according to the terms and target groups of the programme.

He noted that as a main part of the evaluation, Tamkeen is keen to determine the impact the coronavirus (COVID-19) crisis has had on the business, in order to be able to accelerate the payment process, especially in the most important sectors.

He explained that the evaluation process continues on a daily basis so as to meet the needs of all small and micro enterprises eligible for support. Dr Janahi indicated that the value of the support for each institution ranges between BD1,050 to BD12,000, depending on the size of the business in terms of the number of employees.

The financial grants are being disbursed over three consecutive months, provided that each institution completes the requirements for each monthly payment by entering the electronic portal and attaching a receipt for its monthly expenses.

Dr Janahi explained that the programme’s budget includes the allocation of support for taxi and bus drivers, driving instructors and kindergarten workers.

This is in line with the order of His Royal Highness the Prime Minister Prince Khalifa bin Salman Al Khalifa, and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier.

The Tamkeen CEO stressed that Tamkeen is working diligently to maximise beneficiaries, allocating its budget to the programme. This has resulted in total liabilities exceeding revenues, especially considering the suspension of labour market fees for a period of three months, which is a main source for Tamkeen’s various development programmes.

Dr Janahi also revealed yesterday that Tamkeen aims to support up to 20,000 enterprises through the programme.