$100M Guyana Development Bank to target small businesses, unlock new financing

Kaieteur News – President Irfaan Ali says the Guyana Development Bank (GDB) will go beyond issuing loans, promising to provide entrepreneurs with mentorship, technical support and market access as Government prepares to launch the institution on October 5.

Ali made the announcement Sunday during discussions with senior banking and private-sector representatives, entrepreneurs and community advocates on how the new bank could help turn small business ideas into viable and sustainable enterprises, the Department of Public Information (DPI) reported.

The GDB is expected to begin operations with US$100 million in initial capital, with eligible borrowers able to access financing of up to G$3 million, including zero-interest and zero-collateral loans. “This is not a grant. This is your opportunity to earn. This is your opportunity to pay back. This is an opportunity to build your credit,” Ali said.