ECLAC official calls Guyana’s WOW programme a model

-says region should imitate this

EXECUTIVE Secretary for the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Barcena, has described the Government of Guyana’s Women of Worth (WOW) programme as a laudable model and said the region as a whole should follow suit. The ECLAC official, who was in Trinidad and Tobago for the Caribbean Development Round Table on Tuesday, organized by ECLAC in collaboration with the Ministry of Finance of Trinidad and Tobago, made the comment subsequent to the Round Table.
Barcena also met with President Bharrat Jagdeo who was in Trinidad and Tobago for the Third China Caribbean Economic and Trade Cooperation Forum.
She stated that the initiative which enables single parent women with opportunities to develop themselves economically is a form of “Inclusive Financing” by government.
The WOW programme, which has cost government over $154M, has a loan span from $100,000 to $250,000, at a minimal interest rate of 6 percent and a maximum repayment period of 24 months.
The initiative, which saw over 1,000 single mothers already benefiting, is being initiated by the Ministry of Human Services and Social Security through a collaborative effort with the Guyana Bank for Trade and Industry.
It was launched in June, 2010, and caters for applicants between the ages of 18 and 60 years, with an earning of up to $40,000 per month.

 

 

 

Source: https://guyanachronicle.com/2011/09/15/eclac-official-calls-guyanas-wow-programme-a-model