The government will, in this month, provide aid to members of the poor and vulnerable community, who are not on the Programme of Advancement through Health and Education, PATH, as many grapple with rising prices.

Finance Minister Dr. Nigel Clarke made the revelation during his Budget Debate presentation in Parliament, today (March 8).

He said 200 million dollars has been allocated for the first round of the initiative.

Beneficiaries will get a $10,000 grant.

Dr. Clarke said another 250 million dollars will be disbursed next month, to cover provision of care packages.

All together the government is setting aside 700 million dollars.

Meantime, the government is seeking to get more people to open low risk bank accounts, by offering them a $2,500 deposit.

These low risk accounts do not attract any bank fee.

In opening the Budget Debate in Parliament this afternoon, Finance Minister Dr. Nigel Clarke acknowledged the concern about high bank fees, and stressed that measures are being taken to put policy in place, to address the problem.

Dr. Clarke said these measures include amendments to legislation to facilitate changes to the ‘Know Your Customer’, KYC requirements at banks.

The $2,500 deposit becomes applicable to persons who open a KYC account after April.