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Govt. single parents’ loans, housing grants lauded by PSC

Jul 06, 2010 News

Two major poverty alleviation project by government, including a low interest, no collateral loan facility for single parents, are seeing the backing of the Private Sector Commission (PSC).
On Thursday, the Commission noted the Women of Worth project and the Government of Guyana/Inter American Development Bank (IDB) Second Low Income Settlement Programme as being projects
providing substantial relief to hundreds of persons who fall under the low income category and under normal lending circumstances, may not qualify for loans.
Under the Women of Worth (WOW) initiative, the government, in collaboration with the Guyana Bank for Trade and Industry (GBTI), has set aside $500M to assist single female parents who are unemployed and those who are earning very little income to sustain themselves, and dependable ones, to obtain micro-loans for entrepreneurship.  The loans are provided at a concessionary interest cost of six per cent.
“We urge all female Guyanese who are qualified, to take full advantage of this initiative. The first part of the GOG/IDB Settlement Programme is geared to assist persons whose incomes are less than $60,000 per month.”
The programme involves building homes for low income persons who qualify at full cost to the government.  The programme is being implemented at three housing areas in Guyana, including Westminster Phase 1 in Region Three, Area B Lusignan and Block EE Non-Pariel, both in Region Four and will assist those low income persons who have been granted house lots in those areas, PSC said.
The second part of the programme, which is not yet on stream, will see low income persons being awarded a grant of $200,000 for construction works.  It is expected that this initiative will primarily benefit persons living in Sophia.
The PSC, in lauding the initiatives, urges all eligible Guyanese to participate in the programs which are geared to enhance the lives of the least privileged.

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