Tamkeen lifeline for 3,000 businesses

MORE than 3,000 businesses have been extended a lifeline with Tamkeen pledging to double its budget to support them until the end of September.

It comes as part of national efforts to combat the economic impact of the coronavirus (Covid 19).

Tamkeen had alloted BD40 million to help Covid-hit businesses in the first phase.

The allocation “will be doubled” in the second phase to cover parts of operational expenses of small and micro enterprises during July, August and September, Tamkeen chief executive Dr Ebrahim Janahi said yesterday.

He also noted that the support will include 50 per cent of the salaries of more than 900 Bahrainis from the most affected sectors.

Dr Janahi was speaking at an online Press conference (July 22) alongside Health Ministry Under-Secretary Dr Waleed Al Manea and National Taskforce for Combating Coronavirus members Lieutenant Colonel Dr Manaf Al Qahtani and Dr Jameela Salman.

“Within the framework of royal directives, the economic support packages (amidst Covid 19) to date have reached more than BD4.5 billion,” said Dr Ibrahim.

“Tamkeen in March launched the Business Continuity Support programme to provide financial grants to affected small and micro enterprises in two phases.

“The government had allocated a budget of BD40m for the programme in the first phase to help businesses and institutions most affected by the economic consequences of the pandemic and this has been doubled in the second phase.

“More than 3,000 institutions, including 139 training institutions, 205 gyms and sport clubs, 346 travel and tour agencies, 393 restaurants and coffee shops and 1,914 salons and barber shops will be supported.”

Dr Janahi highlighted that the first phase of the programme covered partial operating expenses of more than 15,600 small and micro enterprises.

“More than 900 Bahraini taxi and bus drivers, driving trainers and kindergarten workers received the support.

“The amounts were determined according to the size of each institution, with the total value ranging between BD1,050 and BD12,000 for each institution, divided into three months.”

Source: http://www.gdnonline.com/Details/838335/Tamkeen-lifeline-for-3,000-businesses