A US city will be distributing a total of $12,000 in financial assistance to qualified residents as part of a local guaranteed basic income program.
The city of Richmond in Virginia says that starting May 27th, residents can apply for the fourth cohort of the Richmond Resilience Initiative (RRI) Guaranteed Basic Income (GBI) program.
For this batch, the RRI will focus on supporting single parents, including guardians with custody, step parents, foster parents and other primary household caregivers. The city says eligible beneficiaries will receive $500 per month for 24 months with no strings attached.
The RRI aims to improve financial stability among working families. The city says the program is part of a growing national movement that seeks to demonstrate the power of direct, unrestricted cash assistance in helping families attain greater financial independence and reduce stress.
According to Richmond’s Office of Community Wealth Building (OCWB), those who participated in the RRI program used their monthly payments to meet essential needs, pay debts, invest in education and create stability for their families.
Says Richmond Mayor Danny Avula,
“The Richmond Resilience Initiative reflects our ongoing commitment to creating a city where families have the stability and support they need to build a better future. This is about trust, dignity, and ensuring our residents have the resources to move forward with confidence.”
The application is open until June 30th.
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