“Take the opportunity” – Minister Browne-Shadeek urges Amerindian youth to tap into GDB financing

Minister of Amerindian Affairs, Sarah Browne-Shadeek, urged Amerindian youths to make full use of the financing opportunities that will open up once the Guyana Development Bank becomes operational, including loans of up to $3 million to fund business and development projects.

Speaking on the Starting Point podcast streamed on Sunday, the minister said young people should carefully plan their ventures now so they are ready to take advantage of the opportunity once the bank launches.

“We encourage our young people to carefully think it through and to make the best out of this opportunity,” she said, stating, “We’re not left behind in any way. And we should…use this opportunity to really tap into what is happening at this time.”

She placed the development in the context of how far Indigenous financing has come. A decade ago, villages relied solely on an annual presidential grant, which started at $1 million and rose to $1.5 million under an initiative introduced by Former President Bharrat Jagdeo.

Since then, additional funding streams have opened up, including the Amerindian Development Fund, agriculture-focused support through HESAD, cultural and sporting grants from the Ministry of Culture, and the Low Carbon Development Strategy (LCDS), which now provides villages with tens of millions of dollars annually.

The Guyana Development Bank, she said, adds a new tier to that financing ladder, one aimed specifically at individual and group-level entrepreneurship rather than village-wide allocations.

“The Guyana Development Bank is definitely going to be a game changer,” she stated.

President Dr Mohamed Irfaan Ali has encouraged young Indigenous people to form groups to access larger financing packages, targeting projects such as tunnel house agriculture and transportation ventures.

In Region Eight, where All-Terrain Vehicles remain the primary, and in some cases only, mode of transport, Minister Browne-Shadeek said access to financing for transportation could be transformative for youth in the hinterland.

The GDB is backed by a US$100 million injection from the government under the 2026 National Budget.

Small and medium-sized enterprises (SMEs), young entrepreneurs, women, and persons living with disabilities are set to benefit from zero-interest, zero-collateral microcredit loans of up to G$3 million under this initiative. In addition to financing, it will provide mentorship, business plan preparation, financial management training, and technical support. [DPI]