-it is hoped during Feminition the figure will reach 1,000
SINCE its launch on June 04, 2010, the Women of Worth (WOW) programme has granted loans to some 920 single-parents and will be aiming to reach the 1,000 mark at ‘Feminition’ – a three-day Women’s Expo that will be put on by the Ministry of Human Services and Social Security from Friday. The Ministry has partnered with the Guyana Bank for Trade and Industry (GBTI) in establishing the WOW facility that aims to alleviate poverty generally, but specifically amongst single parent women; make women more financially independent, thus, reducing the incidents of violence against women and children; and to catapult Guyana closer to a place where the country can enjoy the benefits of gender equality.
The update was provided by Shaliza Shaw of GBTI, who joined Human Services Minister Priya Manickchand at a press conference last Friday, to discuss ‘Feminition’, and was held in the studios of the National Communications Network (NCN).
Shaw said visits were made to six regions so far and that photos from those outreaches will be on display at the exposition to be held at the Guyana National Stadium, Providence, East Bank Demerara.    
She said applications will be processed at the booth and requirements for loans will be provided to those who are interested.
According to Manickchand, WOW gives loans at a very low interest rate without persons’ having to provide collateral. Government had to pass legislation to allow for the implementation of the programme, the minister pointed out.
As a result, Manickchand remarked that many lives have been improved in less than a year. “It is a real tangible benefit to the persons accessing this money,” she said.
‘Persons with the idea and will,’ but lacking money, can access the loans to continue businesses in clothing, baking, poultry rearing, floral arrangements, cosmetology, among others. The pay back amount is just over $11,000 monthly.
At the launch, Manickchand had mentioned that the criteria for benefit are that applicants must be women, single parents, between the ages of 18 and 60, earning under $40,000, and must be on the single parents register.
She said, too, that the applicants must be in possession of a skill or must have expertise in the field in which they wish to begin their business.
Further, a minimum of $100,000 and a maximum of $250,000 will be issued at a repayment rate of 6% per annum. The loan must be repaid over a 24-month period, the minister disclosed.