Human Services Minister Jennifer Webster says plans are in train to extend the Women of Worth (WOW) programme to regions one and seven as it has transformed the lives of over 2,300 single parent women since its 2010 launch.
“The scheme provides single women access to loans, ranging from $100,000 to $250,000 to establish and expand small businesses, with a maximum repayment period of 24 months,” a Government Information Agency press release said. Webster noted that it has improved the financial status of many beneficiaries who tapped into the facility provided through the Guyana Bank for Trade and Industry (GBTI). “To help women to be able to work toward providing a better life for themselves and families is a great achievement for this government,” she added.
In 2011, GBTI approved and disbursed over 1,180 loans amounting to more than $228 million to applicants for various economic ventures including cash crop farming, poultry rearing, day care centres, hair dressing, pharmaceutical and food processing.
Webster said from January 3 to 11, the ministry received over 340 applications from single-parent women seeking to tap into the facility. As a result of the increasing interest in the first quarter of the year the ministry will be extending the programme to single-parent women in Regions One and Seven. It has already been implemented in all the other regions.
In addition, the ministry will soon launch a vigorous public awareness campaign to educate other single parents about the micro-credit facility. “We also plan to conduct more training programmes to assist those women to improve their capabilities and to be able to secure markets for their produce… it is important that we guide them and assist with the tools and training that will afford them the opportunities to be able to source markets for production so they can be able to repay their loans in a timely manner,” Webster explained.
According to Webster, single-parent women should not see their circumstances or themselves as vulnerable but “as people with potential who can achieve anything they want in life once they combine their willpower with the support from the ministry.” She then shared Patricia Chandro’s success story. Chandro, of La Penitence, accessed a loan from the facility for $250,000 in November 2010 to assist with the establishment of a Play Group. To date, she has repaid her loan and expanded her business. The minister also noted that single parents can access subsidies for day care expenses and training.
