Over $800 MM paid in financial support for Colombian businesses, with plans to extend payroll subsidies until Q1 2021

The Colombian government announced that the Formal Employment Support Programme initially extended until December 2020, is expected to continue towards the first quarter of 2021. The programme subsidizes 40% of the minimum wage in those companies that have seen their cash flow affected by more than 20%. The cost of the first stage has exceeded $800 MM, benefitting more than three million jobs.

Source: RCN Radio