New Parenthood Assistance payment announced in Budget
June 28, 2018 6:59 pm
Mothers from families with a household income below $30, 000 will be given a grant of $1000 once their child is born.
The government has allocated five million dollars towards Parenthood Assistance Payment.
Minister for Economy Aiyaz Sayed- Khaiyum says the grant will be given irrespective of the number of new born.
“The new born is registered under the BDM office. Only upon registration and the issuance of a birth certificate a new bank account will be opened up at any participating Bank in the mothers name to receive the parenthood Assistance Payment. The first $500 will be made available immediately to the mother and those funds can go towards the purchase of whatever is required for the rearing of the child.”
Sayed-Khaiyum says the remaining five hundred dollars stay in the bank where it can earn interest and can be accessed once the child is in Year One or Primary School.