President Irfaan Ali emphasized that the Guy$100,000 cash grant being given to Guyanese citizens aged 18 and older should be seen as a tool to empower individuals and create long-term wealth and opportunities. Speaking during a live broadcast of the program “In the Seat”, President Ali urged that the grant, which is set to be paid out by the end of this year, should not be viewed merely as a cash handout, but rather as an investment platform.
The president encouraged citizens to use the grant strategically to improve their economic circumstances and contribute to the country’s overall development. By framing the cash grant as an opportunity for growth, he hopes to inspire individuals to invest in ventures or initiatives that could lead to sustainable financial gains.
He suggested that beneficiaries can 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 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 checks are being prepared for distribution.
The government said an estimated GUY$30 billion will be handed out under the initiative during the first phase of distribution benefiting 300,000 citizens.
President Ali said that the program is being carried out in a manner to ensure the highest standard of transparency and it includes a 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, that we can start paying out the checks,” he said.
