Most entities across the Cook Islands Investment Corporation (CIIC) portfolio continue to provide support to households and businesses to help support the nation through these trying times.
continued support includes rent relief, power discounting, extended payment
terms and project works.
Associate Minister for CIIC, Albert Nicholas said, “this support is in
recognition that the borders are closed, albeit temporarily, and reflects the
intention of the Boards and management teams across the CIIC portfolio to
juggle its resources in order to continue much needed support to households and
relief has continued to be provided to tenants of CIIC, Airport Authority,
Ports Authority and Punanganui Market.
the December meter reading until the end of January meter reading, Te Aponga
Uira (TAU) is offering a 50 per cent discount per month to those commercial
customers who are registered with MFEM as eligible to receive support through
the wage subsidies or business grants.
domestic customers who have completed a TAU Hardship Registration form at the
TAU office, will receive a discount of up to $50 per month, and up to $50 per
month will be credited to all INTAFF (Ministry of Internal Affairs) power
rental relief and electricity discounts together with previous ones have been
offered to help alleviate the substantial disruption to the Cook Islands
economy and incomes caused by the Covid-19 pandemic,” said Michael Henry,
chairperson of the CIIC Board.
our entities have relaxed their payment terms, taking into account financial
hardships currently being experienced across our community”.
has and is encouraging its entities where possible to bring forward planned
infrastructure projects increasing the potential for economic stimulus.
Projects brought forward to date include; various works undertaken at the ICI
precinct, clearance work at the former Te Mato Vai compound and repair works at
Titikaveka College. These were projects previously timed to begin later in the
financial year, and have recently been completed, involving circa hundreds of
thousand dollars and provided employment opportunities for about 15 persons.”
“Cook Islands Investment Corporation is focussed on supporting our nation. Where we can find innovative solutions by providing relief and rescheduling or changing priorities that will help to grow our economy, we will. Meitaki Atupaka to our staff coordinating this support and projects to provide economic stimulus for the private sector,” said Henry.