Dr. Abrams Questions Transparency at US$100M Development Bank

Dr. Karen Abrams, founder and Executive Director of STEMGuyana and Pathway Online Academy has questioned the transparency of the Guyana Development Bank, calling for clear lending criteria, conflict-of-interest safeguards and public disclosure of who benefits from its US$100 million financing programme.

In an opinion piece published by Kaieteur News on October 4, Abrams welcomed the bank’s offer of zero-interest, collateral-free loans of up to G$3 million but warned that billions in public funds must be distributed under clear, transparent and accountable rules.

The bank began operations on October 5, backed by an initial G$20 billion capital injection announced by the Government. Abrams, who holds a Master of Business Administration (MBA) and has worked in corporate America, said the initiative could open financing opportunities for entrepreneurs overlooked by commercial banks, but argued that its success would depend on how decisions are made and whether the public can measure the results.