ECLAC lauds Guyana’s WoW programme

TIMES INT'L

Mrs Alicia Barcena, the Executive Secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), described the Guyana government’s Women of Worth (WoW) programme as a laudable model, and said the region as a whole should follow suit.

The ECLAC official, in Trinidad and Tobago for the Caribbean Development Roundtable on Tuesday, September 13, also met with President Bharrat Jagdeo, who was in Trinidad and Tobago for the Third China-Caribbean Economic and Trade Cooperation Forum. She made that comment subsequent to attending the roundtable organised by ECLAC, in collaboration with the Finance Ministry of Trinidad and Tobago.

She described the WoW initiative, which provides single-parent women with opportunities to develop themselves economically, as “a form of inclusive financing” by government.

The WoW programme has cost government over Gy$154 million. It disburses loans in value from Gy$100,000 to Gy$250,000 at a minimal interest rate of six per cent and a maximum repayment period of 24 months. The initiative has seen over 1000 single mothers already benefiting from receipt of loans to start up businesses, enabling them to increase their incomes.

The WoW initiative was initiated by the Ministry of Human Services and Social Security through a collaborative effort with the Guyana Bank for Trade and Industry. (GINA)

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