Guyana Development Bank and access to loans — Andrew Forsythe — Opinion

Guyana Development Bank and access to loans

September 25, 2026·3 min read

Published in

Guyana Times ·Sep 25, 2026

Dear Editor,

The establishment of the Guyana Development Bank (GDB) is another great vision of His Excellency Dr Mohammed Irfaan Ali, which will be creating a new opportunity for Guyanese citizens who have viable business ideas but have traditionally struggled to obtain financing from commercial banks and/or other lending institutions. This is a new financing initiative which will certainly benefit our Guyanese entrepreneurs, farmers, and small businesses.

The Bank is expected to be launched on October 5, 2026^[1] (a significant month in Guyanese political history), following the signing and gazetting of the Commencement Order on September 16 by the Honourable Senior Minister Dr Ashni Singh^[2]. The Government has announced that the bank will begin with a US$100 million (which is approximately GY$20 billion) capital injection.^[3]

One of the central features is access to loans of up to GY$3 million with zero interest and without any collateral for eligible borrowers. This programme is intended particularly to assist small and medium-sized enterprises, young entrepreneurs, women, farmers, agro-processing, manufacturers, tourism, and other entrepreneurs.

The Government has also stated that financing will be accompanied by business mentorship, training, technical assistance and support with business planning. This means the programme is intended to provide more than money. It is designed to give entrepreneurs assistance in developing businesses capable of generating income and repaying their loans.

This PPP/C Government has also encouraged people who are interested to begin preparing their business plans before the bank becomes fully operational. However, it is my view that while you do not have to present any form of collateral in the borrowing of the GY$3 million, you must have to present a good business plan which could convince the bank of your ability to repay the interest-free loan based on the bank’s repayment operating rules.

Agriculture, for example, could represent one of the areas where the GY$3 million facility could have a significant impact.

A farmer could potentially invest in areas such as:

Vegetable production
Poultry
Livestock
Aquaculture
Farm machinery
Greenhouses and shade houses
Hypophonic Agriculture
Crop production
Storage
Food processing such as fruit juice, pepper sauce, etc.
Packaging
Transportation

A GY$3 million investment could potentially help an entrepreneur acquire small-scale processing and packaging equipment, block making, manufacturing, tourism, etc.

The Development Bank is specifically intended to improve access to financing for young entrepreneurs. This could provide an alternative pathway for young Guyanese who want to become entrepreneurs rather than relying solely on traditional employment.

Take another example: a trained electrician could establish an electrical contracting company. A trained mechanic could establish a repair workshop. A trained chef could establish a catering business. A trained computer technician could establish an information-technology business.

The fundamental requirement will be transforming the skill or idea into a viable business proposal, especially now in a fast-developing country where these essential services are urgently required.

Women are also among the groups specifically identified as beneficiaries under this initiative. The facility could potentially support women operating or establishing businesses in areas such as catering, food production, garment manufacturing, beauty salons, etc.

There have already been several outreaches by Government ministers and senior Government officials concerning the Development Bank and its benefits to the Guyanese people. For Region 10, my region, the financing opportunity could be particularly relevant as Linden and surrounding communities seek to diversify beyond their historic dependence on bauxite and logging.

Finally, a successful business venture can create employment, support farmers, provide services to communities, generate income for households and contribute to national development and economic activity. The forthcoming Guyana Development Bank represents a significant new financing mechanism for eligible Guyanese entrepreneurs and small businesses.

With the bank scheduled to launch on October 5, 2026, the immediate opportunity for prospective entrepreneurs is to prepare carefully, develop realistic business plans and identify productive ventures capable of generating sustainable income.

Yours sincerely,
Andrew Forsythe

References

Press Release: Commencement Order signed by Finance Minister and gazetted to operationalise the Guyana Development Bank – Department of Public Information, Guyana

dpi.gov.gy · 2026-09-16

Press Release: Commencement Order signed by Finance Minister and gazetted to operationalise the Guyana Development Bank – Department of Public Information, Guyana # Press Release: Commencement Order signed by Finance Minister and gazetted to operationalise the Guyana Development Bank September 16, 2026 ... Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh today signed the Commencement Order to operationalise the Guyana Development Bank. The Order was then Gazetted. This marks another critical step in the institution’s journey to establishment, following the recent announcement by His Excellency President Dr. Irfaan Ali that the Bank would be launched on October 5, 2026. The Guyana Development Bank Bill was successfully piloted by Dr. Singh in the National Assembly on July 27, 2026, and assented to by President Ali on July 30, 2026, paving the way for a new wave of Guyanese entrepreneurship to be unlocked. A first tranche of US$100 million ($20 billion) would be injected at start-up, representing half of the Bank’s authorised capital of $40 billion.

Guyana Development Bank to go into full operation in October - News Source Guyana

newssourcegy.com · 2026-09-17

# Guyana Development Bank to go into full operation in October - News Source Guyana Author: News Source Guyana Published: 2026-09-17T22:29:51+00:00 Source: newssourcegy.com (newssourcegy.com) Language: en ## Story Guyana Development Bank to go into full operation in October - News Source Guyana # Guyana Development Bank to go into full operation in October By News Source Guyana on September 17, 2026 As the Government prepares to launch the Guyana Development Bank in October, it has begun steps to appoint a Board of Directors. On Wednesday, Minister of Finance, Dr. Ashni Singh, signed the Commencement Order to operationalise the Guyana Development Bank. He said the Commencement Order marks another critical step in the institution’s journey ahead of its October 5 launch. “That now sets the stage, starting from October, the operationalising of the Guyana Development Bank, and we are already putting, at the governmental level, all of the prerequisites in place. We will be appointing a board; we will be appointing a senior management; we will be appointing staff,” Minister Singh said. Minister Singh said a number of key persons have already been identified to aid in the bank’s effective functioning from the time it is launched. The Guyana Development Bank Bill was piloted through the National Assembly by Minister Singh earlier this year. A first tranche of US$100 million ($20 billion) will be injected at start-up, representing half of the Bank’s authorized capital of $40 billion. The Guyana Development Bank is expected to transform the financing landscape for Small and Medium- sized Enterprises (SMEs) and entrepreneurs in Guyana, especially to the benefit of women, youth, and persons with disabilities, offering zero-interest loans of up to $3 million with no collateral required. Mentorship and training services would also be provided to ensure beneficiaries are equipped with the requisite knowledge and skills to run successful businesses. Minister Singh said under a co-financing arrangement, borrowers would be able to unlock additional financing of up to $7 million from traditional lending institutions, at favourable interest rates. “We are going to be working with the commercial banks to establish in key strategic bank locations, a desk within the commercial banks to work with them so persons can go in and submit their applications. We are going to be working in collaboration with the commercial banks so persons can graduate from the development bank unto the full financial system and get perhaps a full loan from the established commercial banks,” Minister Singh said. Further, the Bank’s operational structure will facilitate the creation of consortia among beneficiaries, providing opportunities for scaling, specialisation, and risk-sharing. In a statement, the Ministry of Finance said the principles of transparency, accountability and sustainability are hard coded into the Bank’s operational framework through relevant legislative provisions. It was explained that strategic direction would be provided by the Board with members suitably qualified across the fields of finance, economics, banking and law, with the latitude to execute broad management functions. The Bank’s legal architecture was also designed to promote effective risk management, while fostering institutional continuity. The entity’s financial records will be subject to annual examination by the Auditor General, and an annual report on operations would have to be prepared and presented to the people and National Assembly of Guyana.

BUDGET 2026: US$100 million to be injected into new zero-interest development bank - News Room Guyana

newsroom.gy · 2026-01-26

BUDGET 2026: US$100 million to be injected into new zero-interest development bank - News Room Guyana ... # BUDGET 2026: US$100 million to be injected into new zero-interest development bank Politics January 26, 2026 ... With an initial US$100 million injection, the government is pressing ahead with the establishment of the Guyana Development Bank. ... This bank is a new initiative that will provide zero-interest loans to young entrepreneurs, women, and other groups. It has been a manifesto promise of the recently re-elected People’s Progressive Party Civic (PPP/C) government.