HALIFAX -- The Prince Edward Island government announced Monday afternoon that it will provide an emergency payment to workers who lost their jobs, or a significant portion of their income, because of COVID-19 restrictions.

"This $500 payment is for workers and self-employed Islanders, who have completely lost their income or had their hours reduced by at least 12 hours a week from Dec. 7-21, because of the provincial orders announced yesterday," said Matthew MacKay, P.E.I.'s minister of Economic Growth, Tourism, and Culture.

The one-time payment of $500 is meant to help tide workers over while they are waiting for federal benefits. The government of P.E.I announced restrictions earlier on Monday to curb the spead of COVID-19 in the province.

"We want to get as much into their pockets as we can before the federal assistance comes through," said MacKay.

MacKay estimates between 700 and 1,000 Islanders will be eligible. He said more details on the program will be available on the province's website on Monday evening and applications can be made starting Thursday.

In addition, workers who have been laid off are also eligible for a $100 grocery gift card and people on social assistance will get a one-time top-up of $100.

The Department of Social Development and Housing said in a news release that it will also be donating $100,000 to the province's food banks and $100,000 to the United Way for COVID-19 relief efforts.