Guyana Dev’t Bank – millions in loans for micro and medium enterprises
– With zero-collateral and zero-interest – President Ali
Following through on its commitment made in the lead-up to the elections, President Dr Mohamed Irfaan Ali on Wednesday announced that Small and Medium Enterprises (SMEs) will be able to access up to $10 million in zero-collateral loans through the Guyana Development Bank.
This bank, set to be fully operational before the end of the first quarter of 2026, will receive an initial injection of US$200 million from the government.
President Ali made the revelation during his address to the nation, where he outlined the government’s policy agenda for economic and social development at the Arthur Chung Conference Centre (ACCC).
The president pledged that youth, women and persons living with disabilities will be prioritised.
Micro businesses will be able to apply for up to $3 million zero-collateral and zero-interest loans through the transformative development bank.
“In the past, thousands of young Guyanese would have been denied access to financing for lack of collataral or business plan,” he said, declaring that, “We no longer have to worry about that.”
The president added that through the co-investment mechanism, businesses “will have access to an additional $7 million, on preferential interest rates, unlocking financing of up to $10 million.”
To ensure Guyanese are prepared for these opportunities, the government will soon appoint a technical team to assist aspiring entrepreneurs in developing sustainable and comprehensive business plans.
Importantly, this will be complemented with mentorship programmes and financial literacy initiatives to help Guyanese save for future investments.
The SME Development Bank, a key commitment in the People’s Progressive Party/Civic (PPP/C) Administration’s 2025 Manifesto, aims to create financial opportunities for Small and Medium-Sized Enterprises (SMEs) so they can benefit from long-lasting prosperity in Guyana’s development trajectory.