THE launch of the Guyana Development Bank (GDB) has been welcomed by Head of the Region Three Private Sector Inc. (R3PSInc), Halim Khan, who has described the institution as a potentially significant catalyst for entrepreneurship, investment and private-sector expansion across Region Three.
Khan’s position comes as the new development finance institution begins operations with an initial capital injection of US$100 million, or approximately G$20 billion, and a mandate to widen access to financing for small and medium-sized enterprises (SMEs) and entrepreneurs.
The bank will offer eligible borrowers loans of up to G$3 million at zero interest and without collateral, while also providing mentorship, training and business-planning support.
For Region Three, Khan has consistently argued that affordable financing is essential to enabling local businesses to move beyond survival and into expansion, value-added production and job creation.
His advocacy for improved access to capital predates the bank’s launch. In responding to Budget 2026, Khan identified the proposed development bank as one of the measures capable of changing the financing environment for small businesses, particularly manufacturers, contractors and agro-processors operating in Region Three.
Khan also congratulate President Dr Mohamed Irfaan Ali and the Government of Guyana on the establishment of the bank noting that improved access to affordable financing could help in expanding operations, in starting a feasible business, introducing innovations and strengthening their competitiveness.
A FINANCING LIFELINE FOR LOCAL ENTREPRENEURS
The GDB’s operating model could be particularly relevant to entrepreneurs who have viable business ideas but have traditionally struggled to meet the collateral and interest-rate requirements of commercial lenders.
Government has said the institution is intended to support businesses in agriculture, agro-processing, manufacturing, tourism, services and technology, while giving particular attention to women, young people and persons with disabilities. Borrowers will also be able to unlock additional financing of up to G$7 million from traditional lending institutions after accessing GDB financing.
The significance for Region Three is considerable given the area’s expanding agricultural, commercial, manufacturing and logistics activity.
Khan has repeatedly positioned the region as an important centre for investment and production, pointing to its strategic location, growing population, agricultural base, expanding infrastructure and increasing commercial activity.
At a Region Three business engagement earlier this year, he said stronger co-operation among government, major investors, private-sector organisations and local businesses was necessary to ensure that economic expansion translates into opportunities for businesses and workers in the region.
KHAN’S PRIVATE-SECTOR VISION
Khan’s advocacy has also focused on moving Region Three beyond traditional primary production towards greater value addition.
In April, he welcomed the commissioning of a $58.5 million agro-processing facility at Canal Number One Polder, arguing that the investment could help farmers move further along the value chain, reduce post-harvest losses and retain more wealth within local communities.
That approach closely complements the GDB’s mandate.
Rather than simply providing working capital, the bank has been designed to combine financing with mentorship, training and technical assistance, while helping businesses form consortia for scaling, specialisation and risk-sharing.
For Khan and R3PSInc, this presents an opportunity to strengthen the ecosystem around Region Three entrepreneurs, helping businesses become more formalised, improve their capacity, develop bankable proposals and ultimately scale their operations.
The GDB is being launched against a backdrop of increased financial inclusion in Guyana. Government data show that 179,758 new bank accounts were opened between October 2024 and August 2026, while private-sector credit and commercial bank deposits more than doubled between the end of 2020 and the end of 2025.
The new institution is intended to build on that expansion by reaching entrepreneurs who may remain underserved by conventional banking.
Region Three has already had early exposure to the programme. In August, farmers from Tuschen and surrounding communities began registering to access GDB financing, with the programme offering interest-free, collateral-free loans of up to G$3 million to eligible SMEs.
For Khan, the importance of such initiatives lies in their potential to convert Guyanese enterprise into sustainable economic activity.
His consistent message to the Region Three business community has been that government investment creates opportunities, but local businesses must be equipped to capture those opportunities through investment, innovation, skills development and stronger participation in emerging supply chains.
The GDB’s launch therefore gives R3PSInc and other private-sector organisations another mechanism through which they can encourage local businesses to formalise, expand and compete.
The bank’s mobile application and community desks are intended to make its services accessible beyond Georgetown, including to riverain, hinterland and other communities. Successful local entrepreneurs will also be trained as facilitators to help residents turn business ideas into loan-ready proposals.
This decentralised approach could prove especially important for Region Three, where businesses range from farmers and agro-processors to manufacturers, contractors, tourism operators, retailers and service providers.
For R3PSInc and Khan, the institution represents more than another source of credit. It provides an opportunity to strengthen the local enterprise base and advance a model of development in which Region Three businesses are not merely beneficiaries of Guyana’s economic expansion, but active participants in driving it.
