Opening ‘new doors’ for Guyanese entrepreneurs – Private Sector welcomes GDB operations

The local private sector has welcomed the operationalisation of the Guyana Development Bank (GDB) on Monday, lauding it as a landmark investment in those who power the economy, small and medium-sized enterprises (SMEs).

The Guyana Manufacturing and Services Association (GMSA) warmly congratulates His Excellency President Dr Irfaan Ali and the Government of Guyana on the launch of the GDB. Established under the GDB Act 2026 and backed by US$100 million in initial capital, the Bank offers loans of up to $3 million at zero interest and without collateral, paired with mentorship and technical support services. The loans are being offered in two categories: a Quick Loan of up to $300,000; and a SME loan between $300,000 to $3 million.

An online digital portal has been established for persons to submit their loan applications and conduct other businesses with the GDB including repayments. Additionally, a new Board of Directors has been appointed to oversee the operations of Bank. The members include: Chairperson, Abu Zaman; Deputy Chairperson, Kathy Smith; and Directors James Bond, Sukrishnalall Pasha, Dion Inniss, Nalinie Singh and Praem Rambharak.