Around 20 companies have put their hands up for government support under the new CARE initiative. Businesses have only two weeks left to apply for the aid.
Monaco’s Economic Recovery Support Commission (CARE) met at the Ministry of State on Wednesday 15^th July to examine the first files from companies looking for assistance.
The companies under review are primarily involved in trade linked to tourism and international markets, such as catering, events planning, international trade, international retail and those in the hotel and restaurant businesses.
The meeting was chaired by Jean Castellini, the Minister of Finance and the Economy.
At present, roughly 20 files are being examined at the Monaco Welcome Office ahead of two commission meetings next week.
The primary goal of CARE is to help the companies most affected by the fallout from the recent health crisis. In some cases, partial coverage may be available to help these struggling companies with a portion of their monthly fixed costs. If accepted, the company will receive a lump sum, allowing a certain flexibility by the business owners to determine where the funds are most direly needed.
Requests for CARE assistance must be delivered to the Welcome Ofice before 31^st July in order to be considered.