Monday 15 July, 2019

CVSS welcomes move to incentivise SLB borrowers

Saffrey Brown (left) 
chair of the Council of Voluntary Social Services’. Also pictured Dr Suzanne Shaw of Leap Co.

Saffrey Brown (left) chair of the Council of Voluntary Social Services’. Also pictured Dr Suzanne Shaw of Leap Co.

The Council of Voluntary Social Services’ (CVSS) is welcoming the announcement made by the Government to allow Student Loan Bureau (SLB) borrowers employed to registered charities, to have 10 per cent of their loan balance forgiven for each full year, that they are employed fulltime to a registered charity.

Saffrey Brown, chair of the CVSS said the announcement was a watershed one for charity organisations. “This is an excellent incentive for people, who want the opportunity to participate in the development of Jamaica, but were previously hesitant to do so,” she said.

Brown further noted that the sector is often unable to provide remuneration packages on par with the private sector. “There is the need to find additional ways of incentivizing involvement in charity organizations and this announcement, is a major step in the right direction,” she added.

In his address in the 2018/2019 Sectoral Debate, Minister of Finance, Dr. the Hon. Nigel Clarke said the incentive would apply to SLB borrowers, who were in good standing with the lending agency. The incentive will take effect on April 1, 2019.

Brown also urged charities to be fully regularised and compliant so that their employees can fully benefit from this new measure.

Presently, there are 91 members of The Council who are registered charity organisations in Jamaica. The CVSS is a coordinating body for voluntary sector organizations (NGOs) involved in social development.

The CVSS is one of the oldest and largest voluntary sector umbrella NGOs in Jamaica. Founded in 1940, its mission is to build the capacity of members and the wider community and create sustainable alliances, facilitating mutual support and joint action and to represent the concerns of the social sector including disadvantaged and vulnerable groups at national and international levels.

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