The government is developing a three-year COVID-19 alleviation programme to be known as "The Ghana Cares Programme" to help rescue the economy from the clutches of the coronavirus pandemic.

"In this regard, the Ministry of Finance is developing a three-year COVID-19 alleviation and revitalisation of enterprise support programme; 'The Ghana Cares Programme' to help stabilise and revitalise the country's economy.

Mr Ofori-Atta made this known in an explanatory statement when he laid a report on the limit of borrowing by government under subsection (6) of Section 30 of the Bank of Ghana Act in the coronavirus emergency.

According to him, the Bank of Ghana had released GH¢5.5billion of a GH¢10 billion COVID-19 support fund in line with the emergency financing provisions under the Bank of Ghana Act, to deal with shocks that had accompanied the coronavirus pandemic.

The programme is a top-up to the GH¢1 billion Coronavirus Alleviation Programme Business Support Scheme to cushion small and medium scale enterprises against the vagaries of the coronavirus pandemic.