WOW - facilitating a brighter future for single parents
A GINA feature, November 22, 2011
Source - GINA
President Bharrat Jagdeo and Minister of Human Services and Social Security Priya Manickchand, accompanied by Finance Minister Dr Ashni Singh check out products made by WOW beneficiaries
The goal of securing a better livelihood for vulnerable citizens in any country shows the quality of not only a caring Government but, one that seeks to use national wealth for the betterment of all its citizens, regardless of race, ethnicity or gender.
These qualities have been manifest in Guyana over the past many years and thousands of citizens can bear testimony to significant strides made by the PPP/C government, to change the socio-economic landscape, to provide a better life for vulnerable sections of the society, particularly children and single parents.
Day care expenses
For single parents, several programmes have been implemented such as skills training and subsidies for day care expenses as support mechanism to alleviate the burdens of single parents who have to take care of their children.
Recipients receive monthly assistance towards the cost of day care expenses while they work.
Minister of Human Services and Social Security Priya Manickchand with WOW beneficiaries of Region Two
WOW
In 2010 a visionary plan under the stewardship of Minister Priya Manickchand came to reality, with the launching of the revolutionary single parents micro credit scheme, Women of Worth (WOW), that facilitates single parents accessing micro loans, without collateral, for business endeavours.
By the middle of November, the WOW department at the Ministry of Human Services had issued about 1,158 loans, valued in excess of $224M, to single parents.
The scheme, a collaborative initiative between the Ministry and the Guyana Bank for Trade and Industry (GBTI), provides single women access to loans, ranging from $100,000 to $250,000 to establish and expand small businesses, with maximum of 24 months repayment.
Staff of the Ministry of Human Services and Region Six women at the launch of WOW in that region
GBTI has committed a total sum of $500M to the WOW Loan plan so there is room for more eligible women to benefit.
The WOW programme has reached Linden (Region 10), Hampshire, (Region 6), Anna Regina, (Region 2), Buxton (Region 4), Fort Wellington (Region 5), Mahdia (Region 8) and recently, Lethem (Region 9). The initiative was launched in the latter region on November 6, with residents showing high interest.
Success stories
Patrica Chandro, a single parent mother residing in La-Penitence, Georgetown accessed a loan for $250,000 in November 2010 to assist with the establishment of the Precious Jewel Play Group.
The funds were expended towards the purchase of learning materials stationery and furniture. The play school has an existing complement of 16 children and is the only such group within the immediate location thus giving her a competitive advantage.
Patrica Chandro, a single parent mother in her school, Precious Jewel Play Group
A another mother, Ayesha Lamasion who has one child, benefited from a loan of $100,000 in August 2010 to purchase stocks for her salon business located at lot 2 Middleton Street, Campbellville, Georgetown, named ‘Salon Sensational’.
The proceeds of the loan were utilized to purchase a nail buffing machine, an airbrush package, a wax pot and related supplies.
A 53-year old grandmother, Brenda Beckles obtained a loan of $200,000 in October 2010 to start up a poultry business and purchase additional stock for her snackette.
To date, loan repayments have always been on schedule and she has been able to expand her stock and offer a larger variety of beverages to customers.
Her increased stock of ice-cream and icicles are particularly preferred by children and she has advised that the loan has been very beneficial to her as her customer base has grown and there is a better return.
A GINA feature, November 22, 2011
Source - GINA
President Bharrat Jagdeo and Minister of Human Services and Social Security Priya Manickchand, accompanied by Finance Minister Dr Ashni Singh check out products made by WOW beneficiariesThe goal of securing a better livelihood for vulnerable citizens in any country shows the quality of not only a caring Government but, one that seeks to use national wealth for the betterment of all its citizens, regardless of race, ethnicity or gender.
These qualities have been manifest in Guyana over the past many years and thousands of citizens can bear testimony to significant strides made by the PPP/C government, to change the socio-economic landscape, to provide a better life for vulnerable sections of the society, particularly children and single parents.
Day care expenses
For single parents, several programmes have been implemented such as skills training and subsidies for day care expenses as support mechanism to alleviate the burdens of single parents who have to take care of their children.
Recipients receive monthly assistance towards the cost of day care expenses while they work.
Minister of Human Services and Social Security Priya Manickchand with WOW beneficiaries of Region Two
WOW
In 2010 a visionary plan under the stewardship of Minister Priya Manickchand came to reality, with the launching of the revolutionary single parents micro credit scheme, Women of Worth (WOW), that facilitates single parents accessing micro loans, without collateral, for business endeavours.
By the middle of November, the WOW department at the Ministry of Human Services had issued about 1,158 loans, valued in excess of $224M, to single parents.
The scheme, a collaborative initiative between the Ministry and the Guyana Bank for Trade and Industry (GBTI), provides single women access to loans, ranging from $100,000 to $250,000 to establish and expand small businesses, with maximum of 24 months repayment.
Staff of the Ministry of Human Services and Region Six women at the launch of WOW in that regionGBTI has committed a total sum of $500M to the WOW Loan plan so there is room for more eligible women to benefit.
The WOW programme has reached Linden (Region 10), Hampshire, (Region 6), Anna Regina, (Region 2), Buxton (Region 4), Fort Wellington (Region 5), Mahdia (Region 8) and recently, Lethem (Region 9). The initiative was launched in the latter region on November 6, with residents showing high interest.
Success stories
Patrica Chandro, a single parent mother residing in La-Penitence, Georgetown accessed a loan for $250,000 in November 2010 to assist with the establishment of the Precious Jewel Play Group.
The funds were expended towards the purchase of learning materials stationery and furniture. The play school has an existing complement of 16 children and is the only such group within the immediate location thus giving her a competitive advantage.
Patrica Chandro, a single parent mother in her school, Precious Jewel Play GroupA another mother, Ayesha Lamasion who has one child, benefited from a loan of $100,000 in August 2010 to purchase stocks for her salon business located at lot 2 Middleton Street, Campbellville, Georgetown, named ‘Salon Sensational’.
The proceeds of the loan were utilized to purchase a nail buffing machine, an airbrush package, a wax pot and related supplies.
A 53-year old grandmother, Brenda Beckles obtained a loan of $200,000 in October 2010 to start up a poultry business and purchase additional stock for her snackette.
To date, loan repayments have always been on schedule and she has been able to expand her stock and offer a larger variety of beverages to customers.
Her increased stock of ice-cream and icicles are particularly preferred by children and she has advised that the loan has been very beneficial to her as her customer base has grown and there is a better return.