Johannesburg – Businesses adversely affected by the recent looting and unrest can apply for a grant of up to R30-million to finance the reconstruction of their infrastructure.
The Department of Trade, Industry and Competition (DTIC) has announced the Critical Infrastructure Reconstruction Programme (CIRP) as part of the R3.75-billion relief package for the restoration of businesses.
The CRIP is a cost-sharing grant of up to 50% of the total qualifying infrastructure costs, capped at R30-million, to rebuild any type of infrastructure that was damaged.
Susan Mangole, the DTIC deputy director-general, urged businesses to apply for relief funding to ensure they rebuild as quickly as possible and get the economy going.
The relief package by the department was part of the government’s broader R38-billion relief package announced by the minister of finance last month.
Mangole said the DTIC had ploughed R2-billion into the relief package, while the Industrial Development Corporation (IDC) had set aside more than R1.5 billion.
About R1.4-billion has been set aside for the Post Unrest Business Fund to assist businesses that operate in sectors that the IDC funds.
Mangole said the funding would be available at concessionary rates to ensure significant development impact.
“It will be distributed through the department, the IDC and the National Empowerment Fund (NEF),” Mangole said.
