Tamkeen announces 3-month extension of its Business Continuity Support Programme for sectors affected by COVID-19
The Kingdom’s Labour Fund “Tamkeen”, has today announced a 3-month extension of its ’Business Continuity Support Programme’ for institutions affected by the COVID-19 pandemic. The extension will run from June until August 2021.
This announcement implements His Majesty, King Hamad bin Isa Al Khalifa’s ‘Royal Directives’ and it is part of the Crown Prince and Prime Minister’s implementation plan of the Royal Directives and for the provision of solutions and support to sectors mostly affected by the pandemic. The extension of this financial and economic stimulus package shall reduce the economic impact of the pandemic whilst maintaining the sustainable economic development.
Support for the following sectors has been announced; children’s play and leisure centres, day care centres, cinemas, gyms and fitness studios, salons and spas, cafés and restaurants (that are reliant on dine-in services), wedding halls, retail shops (non-food items), travel and tourism agencies and events planning companies. The package will also cover the salaries of taxicab drivers, bus drivers and driving instructors for an additional 3-months. More details on the sectors supported is available on Tamkeen’s website.
Applications are open to all enterprises within these sectors, regardless of their previous application status. Enterprises can apply through Tamkeen’s portal from June 27th until July 11th. Applications will be evaluated, and the level of support awarded will be determined by the degree to which the enterprise has been affected by restrictions or closure.
His Excellency Shaikh Mohammed bin Essa Al Khalifa – the Chairman of Tamkeen – praised the Royal Directives and His Royal Highness, the Crown Prince and Prime Minister’s ongoing efforts to reduce the economic impact of the pandemic. His Excellency has encouraged enterprises to continue their business activities, generate growth and development, and contribute towards the national economy.
Moreover, His Excellency Mr. Hussain Mohammed Rajab – the Chief Executive of Tamkeen – highlighted the national efforts of Team Bahrain in response to the pandemic. He also stressed the importance of continuity within private sector enterprises and praised the manner in which they are meeting current market challenges through creativity, innovation and sustainability.
The Business Continuity Support Programme was launched last in March 2020, in line with the Royal Directives, to support the private sector through an economic and financial stimulus package to mitigate the economic impact of the COVID-19 pandemic. The programme supports SMEs by providing financial grants to help them continue to meet their operational costs. The programme is a government initiative to support individuals and enterprises during the pandemic.
The support available under the Programme has been extended on four previous occasions for those sectors most affected by the pandemic. To date, Tamkeen has provided BHD 56 million in support to more than 16,000 SMEs across the Kingdom.