Beautiful Virgin Islands

Monday, Jul 14, 2025

$40,000 pledged by UNDP and government for restaurant industry

$40,000 pledged by UNDP and government for restaurant industry

GIS The COVID-19 pandemic has severely impacted the survival of businesses, more so the micro, small and medium enterprises (MSMEs) which have suffered heavy losses. The Government of the British Virgin Islands (BVI) and UNDP have partnered to assist MSMEs within the restaurant industry.
The initiative is part of UNDP Barbados and the Eastern Caribbean’s Economic Recovery Programme. It will provide financial assistance of 40,000 USD to jump start 10 businesses in the BVI and equip them with the tools to transition from a face-to-face business model to a digital modus operandi. Under the programme, business owners may use the grant for a myriad of purposes, including the purchase of food and cleaning supplies to restart the business, the payment of employees, the procurement of biodegradable containers to package food, the creation of websites and/or apps to facilitate online ordering, delivery and payment for food items and the securing of financial management assistance to streamline operations.

Micro, small and medium enterprises make a significant contribution to the economy of the BVI. It is critical to the socio-economic viability of the country that they remain operational through the slowdown caused by the global pandemic. The Ministry of Finance will ensure that the MSMEs retain employees, increase their revenue, and provide satisfactory services to their customers. UNDP is working to ensure that MSMEs have the resources and develop the skills to remain viable. This initiative is part of a support package to BVI which includes an Economic Impact Assessment, soon to be released, surge support to the capacities of the Ministry of Finance and small private sector grants, like this support to BVI restaurants.

This programme complements the Government of the Virgin Island’s Economic Response Plan – Phase 2 which includes direct monetary assistance to MSMEs in the tune of USD 6.5 million. The support is anticipated to help MSMEs supplement lost revenue and help in retaining employees. It comes on the heels of another initiative launched by the Government to reduce operational costs during periods of reduced commerce and revenue. The additional relief provided by the three-month amnesty on electricity payments could provide additional cash flow for impacted MSMEs to support other aspects of their operations.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
×