Government pledges $7M to support all of Niue with a Covid-19 Financial Response Package
Cabinet has authorized a $7 million financial response package in its meeting today.
The financial assistance package are to ensure public safety and overall sustainability.
Maintenance of core public infrastructure and food security.
Providing the means for everyone to sustain themselves and their families during the crisis.
Ensuring that businesses and the Government of Niue continue to operate and be in a position to lead Niue’s recovery.
Recovery package needs to include a component to kick start businesses and the economy when the pandemic is over.
Keep the implementation simple and where possible devolve responsibility to the individual organizations best placed to the decisions.
This assistance will be used as follows:
a) Health Sector – Financial support for the Health Sector for the implementation of a Health Sector Plan to respond to Covid19, along with assistance with further planning and help to facilitate supplementary front line staffing along with urgent medical equipment and supplies to equip and prepare Niue.
b) Vulnerable People – Provide assistance through a one-off payment to support for vulnerable Niueans.
c) Wage Subsidies& Redeployment – of Private Sector staff to Government may also be required for selected staff receiving these payments.
d) Private Sector Businesses – Financial support to business owners impacted by no Tourism and loss of revenue.
e) Government of Niue – Financial support to meet funding deficits due to reduction in various income streams and to support essential services under increased demand i.e. Policing
f) Food Security – Provide interest free loans via NDB for a 6-12-month period for the major food suppliers.
g) Government infrastructure Funds set aside to allow for the key infrastructure being power, telecom, water and other key assets to continue operations.
Government of Niue Contributions;
- Effective 1st April NDB loan and interest holidays for all impacted private sector businesses & staff to be reviewed in 3 months.
- Settlement of NCT extended to 60 days after goods received off the boat for all importers until 30 April 20
- Government on Niue pledges $7million to support all of Niue with a Covid-19 Financial Response Package, which will be reviewed in 3 months.