The Social Protection Ministry announced that the restructured Women of Worth (WoW)
Social Protection Minister Volda Lawrence
microcredit programme will receive a $40 million allocation. According to a statement from the Ministry, this allocation would allow single parent women to access loans for start-up businesses.
The release further stated that at the 2016 National Budget Estimates, Minister Volda Lawrence observed that a number of single mothers have been engaging the Ministry with their projects.
It was noted that the Ministry is currently seeking funding to rollout a new credit line, the People Of Worth Entrepreneurial Resources (POWER) project. It was opined that this scheme will allow for both males and females to access loans.
The Government also promised that mechanisms will be put in place through additional staff and there will be an ongoing monitoring and evaluation system to ensure that these projects are properly managed and the loans are serviced.
Criticisms of Government’s handling of the WOW programme were mounted by Opposition Member of Parliament, Dr Vindhya Persaud in the Budget debates. It was noted that it was under the People’s Progressive Party/Civic Administration that the WoW programme became a reality which saw hundreds of Guyanese women benefiting.