Through Government, GBTI collaboration…
FIFTY single mothers in Region Six (East Berbice/Corentyne) yesterday received ‘Women of Worth’ loans from Guyana Bank for Trade and Industry Limited (GBTI), through the financial scheme in which the Government is collaborating to alleviate poverty amongst female household heads. The recipients, who were lent sums ranging from $100,000 to $250,000, accepted them from Minister of Human Services and Social Security, Ms. Priya Manickchand, at Hampshire Community Centre in Corentyne.
Shundell Simpson, a mother of one, was high in praise of the gesture whilst asking divine blessing on the Minister, who, in her remarks, reminded the beneficiaries that the Government’s initiative is to ensure that children of single parents are not left behind because of inadequacies within the home.
Manickchand said: “The Government has other programmes, such as the Public Assistance, which is a grant for six months. But we want to put the tools in your hands. You are worth more than joining a line to accept a Public Assistance grant. With this loan, you should never have to ask or beg for help again.”
She observed that many of those who got the benefit yesterday did not have the wherewithal to secure the loan which is collateral free and attracts an interest at the rate of six per cent, repayable over 24 months.
Senior Supervisor at GBTI Corriverton, Corentyne Branch, Mr. Andre Yhap said, following several outreaches in Hampshire, Anna Regina, Essequibo Coast and Buxton, East Coast Demerara, among other places, the lending institution got 559 applications, from which 164 were allowed to borrow a total of $32M.
According to him, 70 more applicants will get their cheques next week but the other persons who applied have outstanding documentation and interviews to complete.
GBTI is to lend $500M under the WOW scheme and those at the presentation yesterday included Regional Education Officer, Ms, Shafiran Bhajan, who also spoke briefly on behalf of the Regional Chairman, Mr. Zulficar Mustapha, whose absence was due to more pressing duties.