Prime Minister Allen Chastanet and a team of economists employed with Government on Sunday night presented the much anticipated Economic Recovery and Resilience Plan.
The $579.33 million dollar package formed part of a three-phase strategy to help the island navigate through the COVID-19 Pandemic.
The 1st Phase was a Public Health Response Plan which involved border closure, social distancing protocols and curtailing domestic activity on close contact non-essential services.
The 2nd phase, the Social Stabilisation Plan sought to provide economic support to displaced and affected households through financing from the National Insurance Corporation and Government.
The 3rd phase – the Recovery and Resilience plan was designed to resuscitate the local economy with the support of public, private and civil society and involves six response strategies geared towards stimulating the economy and protecting the incomes and livelihoods of all St. Lucians and to support and protect the business sector from the threat of insolvency.
Mr. Chastanet said last night that The Recovery and Resilience Plan aims to generate employment and provide income to affected households through an ambitious portfolio of shovel ready capital investment projects.