Guyana’s proposed Development Bank has been widely welcomed as a long-overdue solution to one of the country’s biggest constraints on entrepreneurship—limited access to affordable financing. But business strategist and technology educator Dr. Karen Abrams argues that unless the institution is designed to build globally competitive businesses rather than simply distribute loans, it risks becoming another source of credit without fundamentally transforming the economy.

In a column published Kaieteur News on July 12, Abrams described the establishment of the Development Bank as “one of the most important economic initiatives undertaken by this administration,” acknowledging that access to capital has long prevented many Guyanese entrepreneurs from expanding beyond the startup phase.

The Government has announced that the bank will be capitalised with US$100 million, offering interest-free loans of up to G$3 million with reduced collateral requirements to entrepreneurs, farmers, women, young people and persons with disabilities. Successful applicants will also be eligible to access an additional G$7 million through participating commercial banks, while the institution is expected to provide mentoring, proposal-writing assistance and business development support.