 Meantime, a US$30 million loan approved by parliament will enable government to meet expenses associated with the management and mitigation of COVID-19. Prime Minister and Minister for Finance, the Hon. Alan Shastain, explained that the COVID-19 pandemic has posed a significant financial burden on the government of St. Glutia. The Prime Minister during the last sitting of parliament indicated that a reduction in revenue and an increase in expenditure, all effects of the COVID-19 pandemic, have created an urgent financing need. It is against this backdrop that the Prime Minister presented a motion seeking parliament's authorization to borrow an amount of US$30 million from the Caribbean Development Bank CDB. Prime Minister Hon. Shastain disclosed that the funds will facilitate the implementation of policy reform initiatives designed to support St. Glutia's COVID-19 crisis response and achieving fiscal stability. Prime Minister Speaker, the policy-based loan is structured around two pillars, and the measures supported are aligned with the government of St. Glutia's COVID-19 response strategy. Pillar 1, the immediate economic actions to mitigate the health and economic crisis caused by COVID-19. This will be accomplished through the following measures. A, an increase in budget lines for COVID-19 pandemic health-related expenditures. B, the implementation of an approved COVID-19 pandemic response strategy, PRS, the granting of a moratorium and or temporary extension of deadlines for the filing of taxes for individuals and businesses for 2020, the waiver of interest and penalties on tax liabilities, and the provision of tax credits to eligible businesses. D, the implementation of a three-month unemployment benefit for NIC contributors and an income support program for non-NIC contributors impacted by the lockdown measures instituted from March 2020. E, the application of the proxy means testing instrument for the transparent delivery and targeting of poor households for scaling up of social assistance. Health officials the world over have stated that the coronavirus will be around for years to come and its effects will continue to be felt even as progress is being made on a vaccine. The government of St. Glutia, like many other countries throughout the COVID-19 pandemic, hands and continues to institute measures and protocols in an effort to protect the public while maintaining the country's economic viability. This, however, requires additional government expenditure. The Prime Minister highlighted that the initiatives to be implemented will also encompass measures to stabilize the country's economy. Pillar two, the strengthened economic and fiscal management for the post-pandemic recovery, this shall be done through the following. A, the preparation of an ERP to resume equitably fiscal sustainable growth guided by fiscal risk analysis. The establishment of a fiscal rules policy framework. The adoption of a public debt management policy. D, the implementation of an electronic public procurement platform. Mr. Speaker, the implementation of this program will be the responsibility of the Ministry of Finance. The Ministry of Finance will work alongside the CDB and other stakeholders to coordinate all actions across the relevant government agencies. The loan consists of a special fund resources portion in the amount of US $10,800,000 and an ordinary capital resources portion in the amount of US $19,200,000. The pronouncements were made at the sitting of Parliament on Tuesday 10th November 2020. From the Government Information Service, I am General Norville.