Stimulus package is a Government initiative to relieve businesses and the economy from the effects of COVID-19. Many sectors have been affected by international boarder closures and international trade restrictions. The relief package is a soft loan administered by the Development of Kiribati (DBK) and the KCCI with a nominal interest rate of 5%. The amount that can be loaned depends on the Sector.
If a business want to apply, they must be a member of Kiribati Chamber of Commerce(KCCI) for 3 years, if not, you must pay your membership fee for 3 years which depend on the size of your business:
For Small or Micro Business = 2019-$50, 2020-$100, 2021-$150 which in total of $300, and your eligible amount is $1,000.00-$2,000.00
Medium= 2019-$150, 2020-$200, 2021-$300 which in total of $650 for 3 years, and the eligible amount of $5,000.00-$20,000.00
Large=2019-$200, 2020-$250, 2021-$400 which in total of $850 for 3 years, and the eligible amount of $20,000-$50,000.00
But only to business who are due with boarder services and Accommodation can get the maximum of $100,000.00 as we know, they are more effected of COVID 19