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WoW programme transforming lives of women countrywide
The Women of Worth (WoW) Micro-Credit Initiative has two main purposes: to improve the socio-economic status of women in Guyana and to promote a pivotal component in the country’s quest towards attaining a society that is economically vibrant.
This is according to Jennifer Webster, Human Services Minister during her Budget 2014 Debate presentation in the National Assembly.
She related that as the WoW programme continues, Government has recognized the need for women to first benefit from training in the management of cash and execution of their business plans as a pre-condition for granting financing.
Webster said “I have met with the partner bank, and together with the Ministry, a more coordinated approach will be taken to tackle the default rate of existing beneficiaries, evaluate the impact on existing beneficiaries before the next phase of expanding the programme to eligible beneficiaries later in the year.”
According to the Minister, since the introduction of the WoW Programme in 2010, there have been a total of 88 second time loan recipients; 15 in Region Six, 39 in Region Four and 34 in Region Two. In Region Two, there has also been five third time and two fourth time loan recipients.
She emphasized that the programme continues to provide through micro-credit enterprises for development in the agricultural sector, poultry rearing, food processing, clothes vending, catering and cosmetology, among many others.
Webster said that one success story of this programme is a single mother in Region Five, who now owns a thriving variety store in which she offers both GT&T and Digicel mobile credit to her community. Another recipient is a single parent in Region Six, who now owns a well established boutique.
She said that several other recipients have used their loans to expand their catering, hairdressing and cosmetology businesses
“Another beneficiary utilized her resources from this programme to expand her veterinary clinic in Region Four. Mr. Speaker isn’t this testimony to Government’s commitment to the continued advancement and empowerment of women in Guyana?…I wish to note that our work in the areas of social services – be it our children, women, men, the elderly or homeless will continue to receive priority attention from our Government,” Webster said.
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