The Inter-American Development Bank (IDB) announced on Wednesday that it approved a US$30 million loan to strengthen the protection of vulnerable populations in Guyana.
This loan, approved by the IDB’s Board of Executive Directors, is expected to strengthen the Senior Citizen’s Pension programme by expanding electronic payments through Mobile Money Guyana and the increase of the pension’s monthly value.
The initiative will help people living with disabilities, by increasing access to the Public Assistance Programme and by supporting the implementation of the Learning Lab, which will deliver skills training courses.
In addition, the project will support gender empowerment by providing services for victims of gender-based violence (GBV). It will also empower economically women, and support victims of trafficking-in-persons. Among other things, it will support the preparation of GBV policy framework, the elaboration of 400 business plans by women participating in the Women’s Innovation and Investment Network (WIIN) programme, and the approval of the Trafficking in Persons Bill, which expands the protection to children, by drafting criminal offences and establishing a cooperation framework with other countries.
The project will also improve the efficiency of the social safety net by approving a strategy for the digital transformation the Ministry of Human Services and Social Security (MHSSS) and a Data Protection Bill, which protects the data of the beneficiaries of the social safety net.
The $30 million IDB loan has a grace period of 5.5 years, an amortization period of 20 years and will be disbursed over the course of one year. The operation was prepared by IDB in collaboration with Global Affairs Canada.
