–with zero-interest loans for entrepreneurs

THE Guyana Development Bank Bill 2026 was, on Monday, successfully passed in the National Assembly, paving the way for the establishment of a dedicated financial institution to expand access to financing for small businesses and entrepreneurs, despite repeated attempts from the parliamentary opposition to disrupt proceedings.
The passage of the legislation fulfils a key commitment in the People’s Progressive Party/Civic (PPP/C) 2025 manifesto and clears the path for the creation of the Guyana Development Bank, which will provide micro-credit loans of up to $3 million at zero per cent interest, alongside mentorship and business development support.
Following the bill’s second reading, Senior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh, said the legislation would improve access to financing, particularly for the country’s most vulnerable entrepreneurs.
“What this bill seeks to do… is to facilitate our smallest and most vulnerable businesses being able to access financing for good business opportunities,” Dr Singh said.
He went on to add that the bank would unlock “a wave of entrepreneurial activities” that would strengthen broad-based economic growth while improving the lives and livelihoods of small business owners across Guyana.
He also expressed disappointment that opposition members did not offer support for the legislation, while thanking government parliamentarians for backing the bill despite the prevailing circumstances in the House.
The new institution forms part of the government’s wider strategy to broaden financial inclusion and ensure more Guyanese can benefit from the country’s expanding economy by accessing affordable financing to start or grow businesses.
The initiative is also expected to support community-based enterprise and create new opportunities for sustainable economic development nationwide.
Minister of Agriculture Zulfikar Mustapha noted that the bank will help ensure economic opportunities reach every region and community, including rural and hinterland areas.
He highlighted that many farmers, small manufacturers, and entrepreneurs have ideas and resources but often lack access to financing.
“This will be a game changer for the small farmers, for the farmers in the hinterland, for the fisherfolk and for agro-processors,” Minister Mustapha said.
Additionally, Minister of Tourism, Industry and Commerce Susan Rodrigues said the legislation represents a commitment to removing barriers that have prevented many Guyanese from transforming their ideas into successful businesses.
Minister Rodrigues said the new bank will support farmers, manufacturers, tourism operators, artisans, women-led enterprises and young entrepreneurs.
“This bill is about investing in people. It is about unlocking the productive potential that exists in every village, every community, and every region of Guyana,” she said.
Member of Parliament Alister Charles said the legislation will help ensure economic growth reaches all regions, including indigenous communities.
He said indigenous people have long been involved in entrepreneurship through farming, craft production, and trade, but access to affordable financing has often been a challenge.
“This legislation is about confidence in the Guyanese entrepreneur, confidence in indigenous communities, confidence in our young people, confidence in our farmers and confidence in our future,” MP Charles said.
Meanwhile, Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, said the bank will create opportunities for small entrepreneurs, farmers, youth, and persons seeking to establish businesses.
He said the institution will support economic diversification by helping more Guyanese participate in the country’s development.