Questions raised over development bank’s capacity to assess agricultural loans

(Kaieteur News) – Economist and former Guyana Ambassador, Dr. C. Kenrick Hunte, has raised a series of concerns about the operations of the Guyana Development Bank (GDB), questioning whether the institution has the necessary expertise, staffing and accountability mechanisms to properly evaluate and manage the thousands of loan applications it has received.

In a letter to the editor, Dr. Hunte said the bank’s reported receipt of between 15,000 and 20,000 applications, with almost 30 per cent coming from agriculture-related businesses, raised serious questions about its capacity to assess and supervise projects in that sector.

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He pointed out that none of the members of the bank’s Board of Directors has experience in agriculture and that no credit staff have been hired, making it difficult to understand how agricultural loan applications would be properly evaluated.