–Global banking giant eyes local foothold amid rapid transformation

GLOBAL banking giant Citibank has described Guyana as “a compelling opportunity,” as the global financial powerhouse announced plans to establish a representative office in Georgetown, pending regulatory approval from the Bank of Guyana.

The move underscores Citi’s growing confidence in Guyana’s explosive economic trajectory, fuelled by record-breaking growth in the oil and gas sector, infrastructure expansion, and increased export financing.

Pablo del Valle, Citi’s Head for Central America and the Caribbean, said the country’s transformation offers unmatched potential for international investors and financial partners.

“We are very excited about the prospect of establishing a presence through a representative office in Guyana,” del Valle stated. “Guyana’s growth trajectory and vibrant investment landscape present a compelling opportunity for Citi and further complement our unmatched global network.”

Citi, which operates in more than 90 countries, said its planned office will help connect Guyana to global markets, facilitating cross-border financing and investment partnerships.

The institution added that it looks forward to collaborating closely with the Bank of Guyana and other stakeholders as it positions itself to play a strategic role in supporting the nation’s development and deepening its financial infrastructure.

Previously, President Dr. Irfaan Ali and Vice-President Dr. Bharrat Jagdeo announced that the  PPP/C administration will catalyse growth in small and medium enterprises (SMEs) through various programmes such as a Development Bank, which will be a state initiative.