 COVID-19 is the most challenging event that the world collectively has had to confront since the Great Depression, let alone small, vulnerable island-developing state like St. Lucia. It has created a public health and economic crisis that is unfolding simultaneously. In an effort to confront COVID-19 and its impact on the health, social, and economic sectors of our nation, the government of St. Lucia has adopted a three-phase strategy, which includes the public health response plan, the social stabilization plan, and the economic recovery and resilience plan. The first phase, the public health response plan, required immediate action to the virus by implementing border closures, instituting social distancing protocols, and curtailing domestic activity on close contact, non-essential services. Phase two, the social stabilization plan, was introduced to provide economic support to displaced and affected households through the national insurance scheme for NIC contributors and the central government for non-contributors. Phase three, the recovery and resilience plan, is designed to resuscitate the local economy with the support of public, private, and civil society. This phase focuses on six response strategies geared towards stimulating the economy and protecting the incomes and livelihoods of all solutions, as well as to support and protect the business sector from the threat of insolvency. 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. The plans will focus on expanding the number of households who are currently on St. Lucia's public assistance programs, who are previously unemployed, as well as providing support to other vulnerable sectors of the society. It will also help improve the public and private sector digitization. Health sector reform will focus on providing support to the public health system to enable them to better respond to future outbreaks through improved primary health care facilities, establishing protocols for telemedicine and promoting mental health campaigns to support persons who might have undergone emotional trauma due to COVID-19. There will also be an acute focus on climate change and disaster resilience through various public works programs. Join us as we officially present St. Lucia's economic recovery and resilience plan. St. Lucia's economic recovery and resilience plan was designed after extensive consultation with various stakeholders, including the St. Lucia Coalition of Services, the Manufacturing Association, the Industrial and Small Business Association, the Chamber of Commerce, Southern Business Association, Hotel and Tourism Association, National Competitiveness and Productivity Council, the Employers Federation, the Evangelical Church of the West Indies, National Workers Union, St. Lucia Insurance Council, the Bankers Association, the Bar Association, and the Credit Union Cooperative League, as well as relevant government agencies. Budgeted at $579.33 million, the economic recovery and resilience strategy represents the unwavering commitment of the government of St. Lucia to spend no effort in safeguarding the development gains made over the past four decades post-independence. It is a comprehensive, multi-dimensional response strategy that seeks to leave no one or sector behind in our effort against this virus. The economic recovery and resilience strategy seeks to achieve the following. First, to curtail the impact that both global and domestic economic contraction is having on the business sector by providing a suite of tax-oriented policies to enable private sector business rejuvenation and continuity. Second, to allow the government of St. Lucia to actively drive economic activity through the deliberate commencement and continuation of public sector capital investment projects. Third, to protect the poor, marginalized, and most vulnerable of our population from plunging further into poverty as a result of COVID-19. Fourth, to accelerate reforms that will build the resilience of the private and public sector by leveraging ICT, which will foster business continuity, as well as catapult growth in the productive sectors. Fifth, to strengthen the health system, to respond to viral outbreaks and to improve health care in general. And number six, to continue to build the resilience of St. Lucia to natural disasters and hazards. The first pillar is stimulating the economy. Prior to COVID-19, St. Lucia's economy was on cost to achieving a growth rate in the region of 4% for the year 2020. However, the emergence of the COVID-19 pandemic and the stringent public health measures adopted to contain transmission and flatten the curve are having profound implications for the country's economy. Given the country's heavy reliance on the export of tourism-related services, which is estimated to contribute 90% of the island's foreign exchange, growth is expected to contrast sizably by nearly 8.5% according to the International Monetary Fund. St. Lucia has witnessed the closure of all hotels and the associated displacement of an estimated thousands of employees. Additionally, strict domestic containment measures, such as the 24-hour shutdown, caused substantial impact on the economy. To mitigate the effect of the pandemic and to assist the recovery of the economy post-COVID-19, key policies will be adopted to jumpstart our economy. When the multi-stakeholder committee finalized the deliberations, they made key suggestions to stimulate the local economy that were embraced by central government in the rollout of eight interventions. Number one is to incentivize the commercial and banking sector to lend to micro, small and medium-sized entities. Commercial banks receive a 50% waiver of corporate income taxes related to earnings from SME lending. This initiative will be in effect for three years and is geared towards improving small businesses, solvency, and the reduction of unemployment. This intervention is timely as bank lending to SMEs is relatively small due in part to the risk associated with such lending. The tax incentive will compensate for this risk and government in the near future will be exploring efforts to have a credit bureau to further support lending to SMEs. The second policy intervention is to allow the St Lucia Development Bank to provide blended part loan, part grant support to micro, small and medium-sized enterprises with a focus on food security and the adaptation of digital technologies. The objective here is to assist agro-processors and businesses in the digital technology community. The government of St Lucia has committed $3.1 million to revitalize their businesses. The third intervention is a waiver of 50% commercial property tax for landlords who extend moratorium or rent reduction to their tenants. Intervention number four will bring over $5.1 million intangible benefits to poor and vulnerable citizens who have been financially affected by COVID-19 as well as hotel and tourism employees who are currently unemployed. The government of St Lucia will utilize part of the fuel surcharge of 50 cents currently levied on the use of diesel fuel to finance part of full payment of electricity bills for affected persons. Lucilek and the Department of Finance will work jointly to ensure this novel initiative redounds to economic relief to over 11,000 households. Interventions five and six assures the waiver of duties on personal hygiene products and increases to subsidy on the flour purchased by bakers from $12 to $17. Intervention number seven is the working capital injection program. Proper utilization and sufficient working capital allow businesses to maintain a solid balance between growth, profitability, and liquidity. The government of St Lucia will provide $5 million to otherwise solvent businesses with low-cost financing between two to 3% interest to assist in meeting working capital objectives. Entities can receive a maximum of $250,000 through the St Lucia Development Bank which is the implementing agency. The process of application will be simple and hassle-free to ensure small and medium-sized enterprises can take full advantage. The government will also permit particular classes of workers namely doctors, nurses, firemen, and policemen the ability to purchase new vehicles exempt of duties and excise taxes for a limited time. This process is expected to start in the summer of 2020. The proposal is part of a larger series by initiatives by new car dealers to incentivize the purchase of vehicles. The banking community is also expected to complement the government's offer and introduce revised lending terms and moratoriums. This initiative is expected to cover approximately 2,000 public sector workers. Pillar number two is the fast-tracking of shovel-ready capital investment projects. Shovel-ready means that these projects are at an advanced planning stage where work or construction can begin within a short period of time, ideally within three to six months. Shovel-ready projects are low-hanging fruits for economic stimulus spending. Thankfully, this was already cemented in government's plans for the medium-term development strategy for 2020 to 2023, since it had already secured $396 million at concessionary terms for public sector capital projects. In keeping with nation-building efforts, the private sector has also signaled the rollout of their own shovel-ready initiatives to stimulate domestic demand that government encourages local procurements of goods and services where available and will utilize local businesses for the procurements of goods and services in keeping with their highest quality standards. Further, to encourage home ownership and stimulate economic activity in construction, developers of five or more houses will qualify for a waiver of import duties on building materials and fixtures for such a development. These policy interventions are expected to generate over 1,500 jobs, increase disposable income, and provide much-needed financial injection into the local economy. PILA-3 aims at strengthening social protection systems in St. Lucia. Undoubtedly, the impact of the COVID-19 pandemic will be most severely felt by individuals and households who were already marginalized and vulnerable in the first instance prior to the onset of COVID-19. Consequently, this threatens to plunge such individuals even further into poverty and indigence, something that St. Lucia can ailer for at this moment. To put it in context, as with the 2016 country poverty assessment, the monetary poverty headcount in St. Lucia was estimated at 25.1%. That is, one in every four St. Lucia's is considered monetary poor. To shield these households from the impact of COVID-19, the government of St. Lucia has taken the bold step of expanding the number of poor households on St. Lucia's public assistance program, commonly referred to as PAP, by an additional 1,000 households. This intervention will deal with the chronic under coverage of social assistance programs in St. Lucia, as well as the anticipated increase in demand for cash transfers as a result of COVID-19. Priority attention will be given to the households that are currently on the waiting list, as well as households who were unemployed pre COVID-19 and are now in desperate need of public assistance support. It must be noted though, that this initiative will be implemented using the revised St. Lucia National Eligibility Test, or SLNet 3.0, to ensure that households who will benefit from this expansion exercise are those who meet the selected criteria. Additionally, the government of St. Lucia will increase the cash transfers to over 280 households receiving child disability grants from $200 to $300 monthly. A similar top-up will be provided to the 183 households receiving foster care grants, while the persons living with HIV grants will be increased to $200. To ensure that poor households have the necessary personal protective equipment, COVID-19 hygiene care packages will be provided to the indigent and vulnerable. The Ministry of Equity, Social Justice, Empowerment and Local Government, through the primary healthcare facilities and local municipal offices, will supply a total of 6,000 hygiene care packages, inclusive of masks, sanitizers, and sanitary napkins to the poor and vulnerable. The fourth intervention under this pillar is the provision of microfinance loans to households dislocated by COVID-19 to diversify into macro and small enterprises, as well as cottage industries. The Ministry of Equity, Social Justice, Empowerment and Local Government, through the James Belgrave Micro Enterprise Development Fund, will provide up to $500,000 in micro loans to households with persons desirous of starting small cottage businesses. The government will also introduce a public works work fair entitled Rural Community Small Projects Economic Stimulation Initiative, which will stimulate economic activity at the community level to create employment and support household income during this trying economic period. Pillar four. In an effort to build resilience and strengthen St. Lucia's productive sectors, government will undertake a number of interventions which will enable businesses to innovate and adapt their strategies and processes to withstand any future crisis. Through its recently launched Love St. Lucia campaign, the Department of Commerce will embark on a comprehensive program which seeks to strengthen the domestic economy by supporting the creation of new health and wellness products such as vitamins and wholesome snacks and other specialty products, encourage consumption of locally produced goods and provide assistance to businesses to improve on the quality and the standards of their products and services. To support food security, the government is injecting EC, $7.2 million into the agricultural sector to support farmers and fishers through the provision of inputs and fuel subsidy. For support to fishers, over 200 boat owners will be eligible for fuel subsidy while 70 fishers will be provided with very high frequency radios with GPS features to support them during crisis on the water. Support will also be provided to aqua and seamos farmers. In relation to livestock, assistance will be provided to 357 swang farmers and 500 small, ruminant and 50 broiler farmers who will be targeted as part of this initiative. In addition, 2,500 crop farmers will be provided with the necessary input required to cultivate short-term crops. The COVID-19 crisis has more than ever allowed MSMEs to pay closer attention to business continuity, innovation and digitization platforms which can allow them to recover and build resilience. To support businesses, governments will be implementing a digitization program alongside its regional pairs that will train young persons with workforce-ready digital skills to prepare individuals to participate in digitally-enabled professions and a take-up program aimed at assisting businesses to adopt technology and tools to improve their business operations and processes, provide technical support to businesses to facilitate an online presence and e-commerce. Support will also be provided to purchase digital devices and associated digital content to support e-learning for vulnerable students. The government will also work closely with the private sector to boost job retention. A comprehensive labor enhancement program will be designed to assist displaced workers in gaining employment in other sectors such as construction, manufacturing and agriculture. This will also include training and certification of approximately 900 workers through the TVET program to be completed by December 2021. In an effort to reduce the pressure that will be placed on the jobs market from the new entrants into the labor force, a national school leavers program will be launched. Some of the areas of that program will include national service, volunteerism, personal resilience through training and career guidance, youth entrepreneurship, support for the increase in enrolments within service clubs and other employment support initiatives. Pillar 5. By all accounts, the public health response has been exceptional. The Office of the Chief Medical Officer and the many frontline men and women who put their lives on the line daily making sacrifices that we as a country can never repay. We salute all of you for continuing to go above and beyond the call of duty. COVID-19 has revealed our personal human strengths, but it has also uncovered gaps in our public health system that need urgent attention. Pillar 5.6 to remedy some of the gaps which will in turn build a more resilient health sector for Saint Lucia and Saint Lucians. Although COVID-19 is predominantly a physical health crisis, it also has the potential to trigger a mental health crisis. The psychological impact on the population is a concern as our citizens experience growing anxiety regarding their health and that of their loved one. Lots of family members in the diaspora not being able to come on in our customary manner due to socially stunted protocols and stringent lockdowns instituted to reduce the transmission of COVID-19. The government through various agencies including the Ministry of Health will be ramping up psychosocial support to all Saint Lucians. Therefore, the recommendation has been made to build a capacity of primary healthcare services to reduce the strain on our main healthcare facilities. Hence the upgrades on the Denry Poly Clinic and the Cassius Wellness Center. The Denry Poly Clinic will commence working three months to be completed in the next 18 months while work is ongoing at the Cassius Wellness Center. Additionally, we will see the completion of the Respiratory Hospital and isolation centers for the North and South of Saint Lucia. The Respiratory Hospital construction is near completion and the isolation center North and South will commence within the next three to six months. The Ministry of Health will be responsible for supervising the projects at a cost of $7.3 million. Pillar number six is Climate Change and Disaster Risk Mitigation. Our current vulnerability to disasters during this Atlantic hurricane season has made a requirement for this economic recovery and resilience plan to focus on climate change and disaster risk mitigation even as we combat COVID-19. Moreover, Saint Lucia declared a water-related emergency on May 18, 2020, which still remains in effect. As such, ensuring that citizens have access to portable water for daily use, including sanitation, is a priority. As part of the economic recovery and resilience plan, the government of Saint Lucia will provide 800 1,000 gallon water tons to vulnerable communities and essential public services such as government agencies that represent marginalized groups, national hurricane shelters, public health facilities, churches, and community centers and the farming community. The objective of such an initiative is to ensure water security in the event of a natural disaster. This policy intervention will be spearheaded by the Department of Economic Development, Transport and Civil Aviation for the Disaster Vulnerability Reduction Project at a cost of $1.12 million. Building more resilient infrastructure that can withstand the effects of climate change is a medium to long-term initiative. Notwithstanding, some interventions to reduce the risk for the most vulnerable populations who live on landslide-prone hillslopes are being pursued. These include initiatives to reduce landslide hazards and slope instability, increased drainage capacity, trimming of verges and ovarian branches along the main furrow fare. While the measures presented in this economic recovery and resilience plan are geared towards stemming economic contraction and curtailing the impacts of the pandemic, the government remains committed to its medium to long-term development goals. There is a growing recognition of the urgent need to accelerate our economic diversification. The current dependence on tourism has added another layer of vulnerability. It makes us acutely exposed to external shocks and hampers the rate at which we grow and transform our country, our economy, and our society. With this in mind, the government of St. Lucia will be actively pursuing economic diversification and structural transformation of its economy with the goal of being economic resilience, creating sustainable jobs which will transform our society. All sectors are expected to play a role in this exercise as it will be for the benefit of all St. Lucia's. Together, we can. St. Lucia, so far our country's swift response has proven successful as we continue to navigate through this pandemic. Our economic recovery plan is part of that strategy but it can only work if we're all in. Work together and truly be each other's keeper. COVID-19 will not erase our years of progress. We've laid the groundwork for success and COVID will only cause us to push harder, be more ambitious, and determined. We're a caring society, a loving society, and a blessed society. Thank you to everyone who participated in this plan for our country. Thank you for watching and let's keep working.