“Emerging Fund for Economic Recovery in Mérida” approved

MÉRIDA, YUCATAN (May 5, 2020) .- In an extraordinary session held through the “ZOOM” online platform, the Merida Town Council approved, at the proposal of Mayor Renán Barrera Concha, the creation of the “Emerging Fund for Economic Recovery in Mérida”, aimed at reactivating the economy of the municipality by supporting micro, small and medium entrepreneurs.

This is part of the measures that the City Council has taken since the beginning of the health contingency for the benefit of the people of Merida.

This emerging recovery fund, amounts for 25 million pesos (an amount that could vary though), will allow a greater number of local entrepreneurs to be able to cover expenses such as the payment of their employees’ payroll.

In the session, which was held online, the mayor stressed that day by day the anguish and concern of people is greater in the uncertainty before the end of the contingency.

“What we are looking for with this program is that it can be tailored to the people’s needs and at the same time, it can be flexible in order to provide some “oxygen” to the finances of Merida families,” he said.

He pointed out that although economic support does not fully resolve the economic situation the city is going through, it can make the wait for the end of the health contingency less “burdensome”.

“We have tried to make this program multipurpose as well as less bureaucratic, but we also need to guarantee that it is intended for the people who really need it, which is why we ask for a series of requirements to be able to grant the resources”, the mayor added.

In this sense, Barrera Concha pointed out that these financial credits will also contribute to maintain and improve employment conditions, as well as to increase productivity in local companies, helping to mitigate the negative economic effects caused by the lockdown.

“This fund is not a benefit as such for employers, but rather will serve so that they can guarantee the employment of their workers once the coronavirus health contingency ends,” he clarified.

The Councilor indicated that the program will have clear operating rules so that it can be executed with total transparency since the purpose is to maintain and increase the production, distribution and marketing of products and services, and also of creative, artistic and innovative ideas, in order to reactivate their consumption, which would result in the development of economic and cultural activity in the Municipality.

In the session, the councilors also authorized that the director of Finance and Municipal Treasurer, Laura Muñoz Molina, be the person in charge of carrying out all the administrative, financial, banking and accounting procedures so that the “Emerging Fund for the Economic Recovery of Mérida” program can be launched as soon as possible.