Finance Minister Dr. Ashni Singh announced that as the Government prepares to roll out the $100,000 cash grant, payments will be made directly to recipients’ bank accounts.
The initiative, set to commence next week, will initially benefit around 50,000 public servants, as their banking information is already known to the Government.
“If you have a bank account, we will be able to pay you this cash grant directly into your account,” Minister Singh stated. “We want to make it easier for you; we don’t want you to join lines or go to different places to register, collect your check, and deposit it. We’ve learned from the past experiences with the previous cash grant, and it worked very well. The overwhelming majority of persons received their grants smoothly.”
Singh emphasized that the preference for bank account payments aligns with the Government’s digital initiative aimed at encouraging all Guyanese to maintain bank accounts for easier transactions.
“Direct deposit remains the most efficient avenue,” he explained. “The first cohort of eligible beneficiaries will be central government employees who currently receive their salaries directly into their bank accounts.”
Next week, the Government plans to launch an online portal for individuals to self-register for the grant, requiring them to include their banking details. Once their information is verified, the grant will be deposited directly into their accounts.
“We want to encourage as many people as possible to use this method. President Ali has advocated for all Guyanese to open bank accounts since last year. We did not wait until today to make this announcement,” Singh remarked.
The Finance Minister also noted that many commercial banks have simplified the requirements for opening a bank account, making it more accessible for citizens.
