Government has announced a GHC 100 billion COVID-19 Alleviation and Revitalisation of Enterprises Support (CARES) scheme to help the country recover from the economic shocks of COVID-19 and its attendant effects.
The programme dubbed ‘Ghana Coronavirus Alleviation Revitalisation of Enterprises Support Programme’, will see an investment of GH¢100 billion to boost firms and industries in the country.
Announcing this initiative in Parliament during the Mid Year Budget Review, the Finance Minister said “I am happy to announce that the President will in the coming weeks launch a GHS100 billion development programme. It is an ambitious and unprecedented three and a half year programme called Coronavirus Alleviation Revitalization Enterprises Support (CARES) Programme. The Ghana CARE programme ‘obaatanpa’ programme will anchor the comprehensive programme for our transformation as a society”.
The programme which will accelerate the Ghana Beyond Aid transformation agenda is sequenced in two phases – a Stabilisation Phase that runs from July to the end of the year (2020); and a medium-term Revitalisation Phase.
He added “Mr. Speaker, we must have courage and be audacious in repositioning Ghana and Ghanaians, not only to mitigate this pandemic, but to implement programmes that will transform our country. We should change our approach to our development and dare to do the impossible. Under the leadership of President Akufo-Addo, and informed by broad consultations, we have prepared the Ghana COVID-19 Alleviation and Revitalisation of Enterprises Support (Ghana CARES) Obatanpa Programme for this very purpose”.
