COVID-19: Economic Relief Measures Announced to Date

  • The GNWT is extending the wage top-up program for an additional 8 weeks to match the federal extension of the Canada Emergency Relief Benefit (CERB) to October, 2020.

  • This program is possible through a federal government contribution of 4.474 million and is intend to assist all lower-wage workers working to keep the economy running during COVID-19.

  • For more information, see the Government of Northwest Territories’ news release of July 31, 2020.[533]

Business Development and Investment Corporation (“BDIC”) Support

  • The GNWT is offering low interest loans to business operators through the Business Development and Investment Corporation.
  • Loans are available for up to $25,000 and are being made available to qualified NWT businesses at a rate of 1.75%. Loans will be amortized for up to five years with options for payment deferral.
  • To be eligible, business owners will need to reside in the NWT and will need to demonstrate financial need due to cash flow issues resulting from the COVID-19 crisis.
  • Borrowers of the BDIC can apply to reduce or defer up to three months of loan payments without penalty or additional interest charges.
  • The BDIC is further extending the option of loan deferrals and reduced payments until March 31, 2021[534].
  • For more information, see the resources for businesses page on the Government of Northwest Territories website.[535]

 

Business and Advisory Council

  • The Minister of Industry, Tourism and Investment established a Business Advisory Council to seek and provide insight from the NWT business community and be a resource for economic decision-making relating to COVID-19.
  • For more information, see the resources for businesses page on the Government of Northwest Territories website.[536]

Relief measures for individuals

Support for post-secondary students

  • The Government of Northwest Territories announced two new grants available for all post-secondary students accessing full-time Student Financial Assistance benefits in the 2020-21 academic school year.
  • The Technology Grant is a one-time payment of $750 to help offset the cost of technology equipment such as laptops and printers
  • The Support Grant is an additional $100 per month to help offset additional costs such as internet fees.
  • For more information, see the Government of the Northwest Territories news release of August 10, 2020.[537]

Funding for low wage workers

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