Most of the Cook Islands Investment Corporation (CIIC) portfolio entities continue to provide support to households and businesses to help the country through this difficult time.
Such ongoing support includes rent relief, electricity upgrades, extended payment terms, and project work.
CIIC Associate Minister Albert Nicholas said: “This support recognizes that the borders are closed, albeit temporarily, and reflects the intention of CIIC’s boards of directors and portfolio management teams to juggle. its resources in order to continue to provide essential support. to households and businesses.
Rent relief continued to be provided to tenants at CIIC, Airport Authority, Port Authority and Punanganui Market.
From the meter reading from December to the end of January, Te Aponga Uira (TAU) is offering a discount of 50% per month to business customers registered with MFEM as eligible to receive assistance through wage subsidies or business subsidies.
Domestic TAU customers who have completed a TAU hardship registration form at the TAU office, will receive a discount of up to $ 50 per month, and up to $ 50 per month will be credited to all benefit recipients. energy INTAFF (Ministry of Internal Affairs).
“The rent relief and electricity rebates, along with precedents, have been proposed to help alleviate the substantial disruption to the Cook Islands economy and income caused by the Covid-19 pandemic,” a said Michael Henry, Chairman of the Board of Directors of CIIC.
“All our entities have relaxed their payment terms, taking into account the financial difficulties our community is currently experiencing.”
“CIIC has encouraged and encouraged its entities, to the extent possible, to put forward planned infrastructure projects that increase the potential for economic stimulus. Projects presented to date include; various works undertaken in the ICI district, clearing works in the old complex of Te Mato Vai and repair works at the Titikaveka College. These were projects that were due to start later in the fiscal year and were recently completed, involving around hundreds of thousands of dollars and providing employment opportunities to around 15 people.
“The Cook Islands Investment Corporation is focused on supporting our nation. Where we can find innovative solutions by providing relief and rescheduling or shifting priorities that will help grow our economy, we will. Meitaki Atupaka to our staff who coordinate this support and projects to boost the private sector economy, ”said Henry.
– Jaewynn McKay / CIIC