THE Guyana Bank for Trade and Industry (GBTI) has commissioned its twelfth branch that will seek to offer quality service to Guyanese citizens. On Wednesday evening, President Donald Ramotar joined the bank’s Chief Executive Officer, John Tracey, Chairman of the Board of Directors, Robin Stoby and other officials for the symbolic ribbon cutting ceremony. 

The new $60M facility which is located at Second Avenue, Bartica opened for business four weeks ago.

DEVELOPMENT PARTNER

President Ramotar said this investment, yet again, “demonstrates the confidence that the business sector has in our economy because they see the changes that have occurred over the years; they see they have a partner for development.”
The President reiterated his administration’s preparedness to partner with investors, to make concessions towards boosting the productive sector of the economy.
While GBTI has demonstrated its confidence in Bartica, with its latest initiative, the administration is convinced that the bank will continue to carry out its civic duty in terms of holding up to its corporate responsibilities.
“We have partnered with GBTI on many projects – the Women of Worth (one example), and we found them to be a good Corporate citizen and we hope by establishing here that they will continue to demonstrate the civic mindedness to contribute to other areas of development in Bartica.”
President Ramotar said his administration has confidence in its citizens and the business community working hand in hand in order to build a better Guyana.
He noted that while investors continue to play their role in the country’s development the government is also doing its part.

GOVERNMENT’S ROLE
“We are also investing a lot in Bartica, and the Region as a whole. Only yesterday (Tuesday) at Cabinet we took the decision to fix the airstrip…this is needed for many economic and emergency reasons. This infrastructure is very important to ensure that we can have good services,” the President said.
Looking forward, the Guyanese Head of State said he believes that it was a wise decision to invest in a community such as Bartica since, like the rest of the country, that community has a bright future ahead.
Further, with collaborative efforts the President said he believes that in his lifetime, Guyana can achieve the status of being a developed country as it has all the necessary ingredients. He noted that in order to move Guyana to this status, the administration has been making investments that will ensure this happens.
“We have all the ingredients for that, we have the natural resources and talented people, and we have been investing in our people.” One of the administration’s main policies, which it has been working on over the past two decades, is investing in the country’s human capital.
He pointed out that each year; the national budget clearly reflects this as a significant portion goes into the social sector, more importantly the education sector.
“…we have a sweeping education bill to modernise and revolutionise our education system. We are going to lay the social and physical infrastructure to ensure that our people are second to none, that they would be capable of taking our country to achieve the potential that we all know it has,” he asserted.
The President again spoke of the administration’s continuous effort to realise the plan to bring cheap and reliable energy to all Guyanese as this is seen as the biggest impediment in the country’s development.

DIVERSIFICATION
He noted that while Guyana has made significant strides in the midst of an atmosphere which has not been conducive to economic growth, it is the administration’s sound governance policies that have made these possible.
The President further lauded GBTI for the initiative, as he noted that their focus on diversification ties it perfectly with the government’s policies.
Meanwhile, the bank’s CEO, John Tracey in his remarks, expressed his admiration for developments in Bartica and its surroundings, and the growing role it is playing in national development.

Tracey pointed out that Bartica is situated at the confluence of two of the mightiest and most travelled rivers in Guyana, Essequibo and Mazaruni.

“And from time gone back Bartica has been described as the gateway to the interior and that interior as we know is vastly rich in natural resources below the ground and therefore its strategic geographic and logistical importance cannot be overlooked.”

The bank’s CEO said he is of the belief that Bartica is at the juncture of its history when it needs to engage in more broad based economic activities.

“GBTI with its wide suite of products and banking services is ready to support this diversification,” he said.

Tracey said the bank would be focusing on small business loans, loans to single mothers, and low-income mortgage loans that can help in expanding the economic base of the mining community.

During the first month of operation, the bank has facilitated the opening of 242 savings accounts, 3 current accounts, one loan and 71 loan enquiries, rented 12 safe deposit boxes and distributed VISA debit cards.

This facility will offer all of its modern services including, a 24-hour ATM service, international transfer, visa debit cards, and safe deposit box among others.

(GINA)