FA4JR

The Financial Assistance for Job Retention Scheme (FA4JR) was put in place in March 2020 in response to the economic meltdown brought about by the Covid-19 pandemic spreading across the world. The main aim of the scheme was to assist businesses and NGOs to pay their employees’ salaries and wages in order to prevent any redundancies. The scheme operated from April 2020 to March 2021. Under this scheme businesses could apply for financial assistance to cover the monthly salaries of employees and self-employed individuals could seek assistance for their income replacement. To design the policies and procedures relating to the provision of the financial assistance, a committee was appointed by the President. The members of the committee were drawn from the Ministry of Finance, Trade and Economic Planning (MoFTIEP), Central Bank of Seychelles (CBS), Seychelles Revenue Commission (SRC), Office of the President and the business community represented by Seychelles Chamber of Commerce and Industry (SCCI). With the exception of the representative of SCCI, this same Committee undertook the review, assessment and approval of assistance. The SCCI member was excused from such reviews and assessments to avoid any potential conflict. The amounts of assistance as approved by the Committee were disbursed by the MoFTIEP, and the President appointed a separate Appeals Committee to deal with any appeals against decision of the main FA4JR Committee.