By yesterday morning, $659,000 had been paid out in business grants to 88 businesses, and $1 million in wage subsidy payments to 82 businesses were made.
Financial Secretary Garth Henderson said his ministry staff were working hard to continue processing the remaining applications.
“We have built a new system from scratch which is user-friendly, and have managed to get the funding out to businesses in need,” he said.
“In a similar vein to the health response, the Cook Islands economic response is well ahead of the curve.”
The 82 businesses employ 924 people on the wage subsidy – approximately 15 per cent of Rarotonga’s workers.
The payments amount to $1140 per employee for the month of April, and will continue to be paid out through May and June.