Tamkeen support for businesses doubled

MANAMA: Financial support provided by Tamkeen to enterprises in sectors most adversely affected by the global pandemic will be doubled and extended for another three months.

The announcement by Tamkeen chairman Shaikh Mohammed bin Essa Al Khalifa follows a meeting of the authority’s board and chief executive Dr Ebrahim Janahi, held remotely, to discuss strategic initiatives to minimise the impact of the repercussions of Covid-19 on the economy.

He said the sectors include sports clubs, gymnasiums, beauty salons, restaurants and cafes, training institutes and travel and tourism offices.

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

He 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, including taxi 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 for these sectors in order to sustain businesses and operations during the current situation.

Assistance offered within the framework of the programme includes 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.

Source: http://www.gdnonline.com/Details/837801/Tamkeen-support-for-businesses-doubled#