The administrative mechanism necessary for the operation of the single parent micro-credit scheme has been put in place, Head of the Presidential Secretariat, Dr Roger Luncheon said Thursday. Speaking at his weekly post-Cabinet press briefing, Dr Luncheon mentioned that the micro-credit scheme will provide small loans targeting the disadvantaged, underprivileged and other vulnerable groups.
“In that context the administrative mechanisms are in place at the Ministry of Human Services and Social Security to give effect to a decision to create and support the scheme,” the Cabinet Secretary said.
He disclosed that legislation to amend the Income Tax Act, which is necessary to facilitate the input of financial institutions, will see a third consecutive reading at the next sitting of the National Assembly on May 27.
“Single parents are the main beneficiaries, and other eligible individuals will be targeted with this revolving loan scheme.”
The single parent micro-credit scheme was a proposal of Minister of Human Services and Social Security, Priya Manickchand.
The design of the programme would see government, along with other financial institutions, funding the availability of micro-credit loans to single parents, with specific emphasis on women.
In response to the needs of the people, Government established the National Single Parents’ Register and took into consideration the types of assistance requested by those who registered.
Hundreds of single parents were trained in Childcare, Care for the Elderly, Pharmacy Bond Clerk, Medical Records, Health Care, Cosmetology, Sewing, Catering, Office Procedures and Information Technology.
On completion of their studies, the single parents will also receive the necessary equipment to begin their trade. (GINA)