GEORGETOWN, Guyana, CMC -President Irfaan Ali says the GUY$100,000 (One Guyana dollar = US$0.04 cash grant to citizens 18 years and older should empower them to create long-term wealth and opportunities.
Speaking during a live broadcast of the program “In the Seat,” President Ali said that the grant, which will be paid out by the end of this year, should not be perceived merely as cash handouts but as an investment platform.
He suggested that beneficiaries pool their resources and embark on business initiatives that will ultimately grow their net income, build wealth, and contribute to the nation’s progress.
“When you take it from the individual, family, and community level, you (would) understand the comprehensive, holistic impact it can have on an individual, community, and national wealth creation,” he said in the broadcast.
To date, 50,000 public servants and members of the disciplined services have been registered to receive the funding, and cheques are being prepared for distribution.
The government said an estimated GUY$30 billion will be distributed under the initiative during the first phase, benefiting 300,000 citizens.
President Ali said that the programme is being carried out to ensure the highest standard of transparency, and it includes thorough coordination between the Ministry of Finance, the Auditor General’s Office, the Bank of Guyana (BoG), and the Regional Democratic Councils (RDC).
“The capturing of persons in Region Four is ongoing, and we are hoping that once there’s enough data in the system, we can start paying out the cheques,” he said.
The government said that a second phase of registration will be undertaken for those who were otherwise unable to register for the first handout. President Ali reiterated the government’s commitment to linking cash transfers to specific outcomes, such as supporting the vulnerable and older people.
Ali had previously announced a two-billion dollar fertilizer programme and GUY$875 million being used to grant persons living with permanent disabilities a one-off cash grant of GUY$35,000.
“These are important investments if we will build prosperity for everyone. Because prosperity built in every home means investing in the vulnerable population so they are not left out,” Ali added.
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