All Guyanese should organize themselves to benefit from Development Bank

Dear Editor,

President Irfaan Ali has signed into law the Guyana Development Bank^[1], creating a new institution through which Guyanese can seek access to financing and other support for economic activity. Its significance, however, will ultimately depend not simply on the bank’s existence, but on who can access its resources, on what terms, and whether those resources reach Guyanese across sectors and communities.

Those of us who have watched the unfolding of the People’s Progressive Party’s (PPP) approach to governance know that Guyana, under the People’s National Congress (PNC) government, had various indigenous banks designed to support the economic empowerment of Guyanese. One was the Guyana Agricultural and Industrial Development Bank (GAIBANK), before the PPP government closed it in 1995.^[2]

Today, we are a nation awash with wealth, primarily from the exploitation of our oil. As citizens, we must use this Development Bank to build, and where necessary rebuild, our economic fortunes and bequeath to future generations.

I therefore call on every Guyanese, irrespective of ethnicity, political persuasion, race or any other consideration, to organise yourselves to benefit from this bank.

While some view the bank as being established to serve as a slush fund for PPP leaders, their friends and cohorts, we must not lose sight of the fact that these resources belong to all of us.

We must ensure that access to the bank is inclusive and representative of the diversity of sectors in this society, as our Constitution intends and mandates, consistent with the principle of inclusionary democracy.^[3]

I call on the trade union community, cooperative societies, churches, non-governmental organisations, civil society, youth and every facet of this society to become part of this process. Let us organise as a force to ensure none is left behind.

From a trade union perspective, national development must be measured not simply by the wealth generated, but by whether the nation’s resources create meaningful opportunities and a better quality of life for the population as a whole.

Collective development demands that access to land, education, employment, housing, natural resources and economic opportunities is not concentrated in the hands of a few, but organised and distributed in ways that allow workers, families and communities to share equitably in the nation’s progress.

And I particularly call on the workers — workers past, present and future—to act. The wealth of this nation cannot be something workers watch from the sidelines while others determine who gets access to it.

We must demand strict oversight and a database showing how people are benefiting based on unique characteristics. If we are serious about inclusion and ensuring that everyone benefits from this nation’s resources, then, in a diverse population like ours, we need a breakdown based on ethnicity, race, location, political association, differently abled, creed, sexual orientation and so forth.

We need that information to determine whether access and benefits are equal and equitable across Guyana, and to address deficiencies wherever they exist.

Likewise, the Development Bank’s personnel and board have a responsibility to empower society. They must ensure citizens understand how they can benefit, how to access the resources, and what they need to do to qualify and remain in good standing. They must create an enabling environment that makes access possible, not put up roadblocks.

The wealth of this nation belongs to all of us, and we must insist on our right to benefit from it. If we knock on the door and don’t get in, we must push it down to ensure we get in. This money belongs to every one of us.

And when I say every one of us, I mean the people of this country across generations—from the Amerindians who came through the Bering Straits thousands of years ago, to the Africans who came subsequently as chattel slaves, to the indentured servants who came after. We are the ones who must foremost benefit, before those now flooding our shores because of our oil wealth.

Let me make clear: I am not opposed to managed migration or migration on humanitarian grounds. But I stand by my conviction that the natural heirs of this nation must not be treated as second-class citizens.

Therefore, workers—past, present and future—organise and mobilise. Do not stand outside the gates while others decide who enters and who benefits.

Let us insist on transparency, oversight, inclusion and claim our rightful place in the economic development of Guyana. The oil wealth beneath our soil belongs to Guyana. The opportunities it creates must belong to all Guyanese—not a privileged few.

References

1. President Ali signs Guyana Development Bank Act into law — dpi.gov.gy ↩
2. Guyana Cooperative Agriculture and Industrial Development Bank (Dissolution and Miscellaneous Provisions) Order 1995 (No. 2 of 1995). — www.ecolex.org ↩
3. Guyana: Constitution, 1970 — pdba.georgetown.edu ↩