…an opportunity for participation in Guyana’s economic life, Manickchand tells beneficiaries
THE Ministry of Human Services and Social Security has, on Wednesday last, fulfilled another promise to the women of Essequibo when Minister Priya Manickchand joined with the Guyana Bank for Trade and Industry (GBTI) to deliver cheques to 60 women worth more than $10 million. These women benefitted under the Women of Worth (WOW) Programme that was launched by His Excellency President Bharrat Jagdeo on June 4th, 2010.

The WOW programme is a government collaboration with a private sector member, GBTI, to provide collateral free, low interest loans to single parent women from the lower income brackets.

Minister Manickchand said the programme was designed specifically to allow women to utilise their skills to better provide for themselves and their families.

“Moreover”, the Minister said, “this programme provides the opportunity for women to participate in the economic life of Guyana.”

The minister observed that, around the world, women are generally poorer and usually are unable to access credit to take themselves out of that poverty.

“It’s a vicious cycle that can only be broken by innovative means,” the minister said.
In this regard, Minister Manickchand commended GBTI for being a good corporate citizen.
She noted that through this programme, GBTI is honouring its corporate duty to work to improve the lives of the citizenry.

Minister Manickchand called on other corporate citizens to emulate the GBTI and come forward with similar programmes. This, she said, would be welcomed by the Government.

Earlier this year, the Minister of Finance piloted a bill in the National Assembly that allowed for waiver of taxes on interest earned from facilities like WOW.

Since its launch, women from Regions 1, 2, 3, 4, 5, 6, 7 and 10 have benefitted. More than 50 million dollars has thus far been disbursed to the women of Guyana, to empower these worthy women.
The programme continues with a fairly large number of women benefitting daily.

GBTI’s Branch Manager Mr. Mario Farinha noted that the financial institution is pleased with its partnership with Government to help change the lives of the women. He also highlighted the fact that the responses have been overwhelming.

It was noted that a vast majority of persons who signed up for the loan may not have received it as yet, owing to the need for documentation and verification. However, the Ministry of Human Services and Social Security has been working with the applicants in sourcing some of the information.

Farinha stated that GBTI’s staff are prepared to the work with the beneficiary women in accessing their loans in a timely manner.
Vice Chairman of Region Two Mr. Vishnu Samwaroo said the disbursement of the cheques will see the setting up of small businesses in various communities.
This, he noted, will create employment opportunities and economic empowerment for many families.
Financial assistance has already been provided to single parent women in Linden, Region Ten; Hampshire, Region Six; Buxton, Region Four; and Anna Regina, Region Two.