President Dr. Irfaan Ali on Thursday evening announced that the government has already begun putting the necessary mechanisms in place to establish the Guyana Development Bank, which is expected to become fully operational before the end of the first quarter of 2026.
According to the President, the administrative and legal framework for the institution is currently being developed.
Once launched, the bank will be integrated with existing commercial banks, which will be required to lower interest rates below 4 per cent as part of the wider effort to make financing more accessible to small and medium enterprises.
The Guyana Development Bank is expected to provide transformative lending opportunities, offering zero-percent interest loans with no collateral requirement. President Ali said the bank will place strong emphasis on key productive sectors, including agriculture, tourism, services, and other value-creating activities.
“This, of course, will lead to the creation of tens of thousands of business opportunities,” the President said as he addressed the opening ceremony of GuyExpo 2025.
About US$200 million in seed funding will be used in this venture.
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