–recruit staff to support entrepreneurs
THE government will establish offices for the proposed Guyana Development Bank (GDB) in every administrative region as it moves to roll out the institution, with trained staff to provide technical support, financial literacy and marketing guidance to prospective borrowers.
Minister of Public Service, Government Efficiency and Implementation Zulfikar Ally said the next phase is to operationalise the bank by ensuring it is accessible to citizens nationwide.
“The next step is to roll it out in every single region in Guyana,” Ally said.
He related, “We will have offices that will be set up. We will ensure that everyone in every region knows where these offices are.”
According to the minister, the regional offices will be staffed by skilled and qualified personnel who will assist applicants throughout the loan process, including those who have only business ideas and not fully developed proposals.
He explained, “Whether you have your proposal in hand or whether you’re coming with an idea, those staff will be trained to help you with developing your project proposal.”
In addition to helping entrepreneurs prepare loan applications, the bank will provide training in financial management, financial literacy and marketing to improve the likelihood of business success.
“They’ll be providing training for you on financial management. They’ll be providing training for you on marketing, because everything that we do now is built on marketing. Business is heavily on marketing,” Ally said.
He noted that the government’s objective extends beyond issuing loans to ensuring recipients build sustainable businesses.
The minister said, “The idea and the thrust of this is that we want to make sure that every citizen who receives a loan from the development bank is successful with what they do.”
To support the rollout, Ally said the government is seeking qualified personnel across the country, including project officers, accountants and professionals experienced in preparing project proposals, as well as trainers in financial literacy and marketing.
“If there’s anyone out there who’s willing to be part of the bank within your respective region, please feel free to send your application either to myself or the Minister of Finance or the Minister of Tourism,” he said.
The Guyana Development Bank will expand access to affordable financing for small and medium-sized enterprises (SMEs) and other productive sectors of the economy.
The institution is expected to provide zero-collateral, zero-interest loans of up to GY$3 million to SMEs. Capitalised with an initial investment of more than US$200 million, the bank is intended to finance projects in agriculture, tourism and the creative industries across all regions.
The Guyana Development Bank Bill 2026 which was passed in the National Assembly on Monday, sets out the governance framework for the institution.
It provides for a board of directors to approve strategic plans, oversee risk management and safeguard the independence of credit decisions.
The legislation also requires directors and officers to disclose conflicts of interest and allows for their removal in cases of misconduct or breach of duty.
