Residents of hinterland and Amerindian communities will soon have direct access to soft loans and other business support through the Guyana Development Bank, President Dr Mohamed Irfaan Ali announced on Sunday.
Addressing residents in Karrau Village, Region Seven, President Ali reaffirmed that the bank is designed to support community-driven development, enabling residents to invest in small enterprises, form consortia, and pursue larger projects collectively.
“The Guyana Development Bank will allow us to target you directly, so that you can benefit from soft loans that will allow you to invest in your small businesses, that will allow you to come together in a consortium…and do larger projects,” President Ali told Karrau residents.
Apart from financing, the bank will also deploy officials to provide coaching, mentoring, and financial management training, ensuring borrowers have the tools needed to build and sustain successful businesses.
President Ali said the initiative represents the government’s commitment to provide resources, equipping citizens with the knowledge and guidance to make the most of them.
The Guyana Development Bank is set to launch in the coming months as soon as legislation is approved in the National Assembly.
In the 2026 National Budget, some US$100 million was allocated to establish the facility and provide seed capital to banks, enabling them to lend to small and medium-scale enterprises (SMEs), including those that have struggled to secure financing through traditional channels. [Department of Public Information]
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