Woman of Worth (WoW) programme to be expanded

Human Services Minister Jenifer Webster said the Woman of Worth (WoW) programme launched in 2010 has achieved much success and her ministry will be looking at expanding the scheme this year. The programme, she said, has improved the financial status of many beneficiaries who tapped into the facility provided by the government through the Guyana Bank for Trade and Industry (GBTI). The scheme provides single women with access to loans, ranging from $100,000 to $250,000 to establish and expand small businesses, with a maximum repayment period of 24 months. “To help women to be able to work toward providing a better life for themselves and families is a great achievement for this government,” Minister Webster stated. In 2011, over 1180 loans to the tune of over $228 million were approved by the bank and were disbursed to the applicants for various economic ventures including cash crop farming, poultry rearing, day care centres, hair dressing, and pharmaceutical and food processing. From January 3 to 11, the ministry received over 340 applications from single mothers seeking to tap into the facility, Minister Webster said. As a result of the increasing interest, the ministry, in the first quarter of this year, will be expanding the programme to single mothers in Regions One and Seven. All the other administrative regions are already accessing the WOW programme. In addition, she said that the ministry will soon launch a vigorous public awareness campaign to educate other single parents about the micro-credit facility. “We also plan to conduct more training programmes to assist those women to improve their capabilities and to be able to secure markets for their produce… it is important that we guide them and assist with the tools and training that will afford them the opportunities to be able to source markets for production so they can be able to repay their loans in a timely manner,” Minister Webster explained. Single parent women, she said should not see their circumstances of being single as vulnerable but “as people with potential who can achieve anything they want in life once they combine their will power with the support from the ministry”. Minister Webster also shared several success stories with the Government Information Agency. Patricia Chandro, a single parent mother residing in La Penitence, accessed a loan from the facility for $250,000 in November 2010 to assist with the establishment of a play group, and to date has been able to repay her loan and expand her business. Single parents are also benefiting from several programmes implemented by the ministry, including subsidies for day care expenses and training.