-First set of loans to be disbursed shortly
Small and medium-sized enterprises (SMEs) across Guyana are expected to gain greater access to financing as government moves closer to operationalising the Guyana Development Bank (GDB), which will offer collateral and interest free loans of up to $3 million.
President Irfaan Ali announced on Friday that the bank is technically and operationally ready, with the first loan disbursements expected shortly after the necessary legislation is passed in the National Assembly.
He said the initiative is aimed at removing longstanding barriers that have prevented many citizens and businesses from accessing credit through traditional financial institutions.
“The development bank is on track. We are hoping to have the first set of this first disbursement as soon as we get past the legislative aspect, but operationally and technically we are more or less in a position to trigger the employment and the system,” the President stated.
Under the initiative, SMEs will be able to access loans between $2-3M without the need for collateral, and it will be interest free, providing a major boost for entrepreneurs seeking to expand operations, purchase equipment, increase production or launch new ventures.
According to Dr Ali, the Development Bank will operate in every region across Guyana, with a particular focus on hinterland and underserved communities to ensure wider financial inclusion.
Beyond financing, the bank will also provide financial literacy programmes, coaching and mentorship to help citizens better manage businesses and improve their ability to access credit.
The President also revealed that small groups or “cells” comprising five to six persons will be formed to help entrepreneurs work collectively and strengthen their engagement with commercial banks.
Back in November 2025, President Ali had announced that the Development Bank would be capitalised with at least US$200 million and would work closely with commercial banks to unlock greater access to capital across the country.
Government has since been conducting consultations and public engagements nationwide ahead of the bank’s official launch, which is expected to support entrepreneurship, stimulate business growth and create more economic opportunities for citizens.
