–President Ali says, as development bank becomes operational
–urges youths, entrepreneurs to capitalise on mentorship, financing opportunities

AMONG the services being offered by the newly opened Guyana Development Bank (GDB) are quick loans of up to $300,000, with a simplified application process aimed at making access to financing easier for individuals and small businesses.
The bank, on Monday, became fully operational with President Dr. Irfaan Ali urging prospective borrowers to commit to hard work, discipline and sound financial management, and to make use of mentorship and business support.
“Take this opportunity seriously. Get involved. Prepare your plan. Be ready. Fill the forms. Go online. Connect to a mentor. Register for financial stewardship and entrepreneur skills development. Be part of the training program. Be part of the extension services.
“Be a part of this comprehensive ecosystem to support personal development, business development, societal development, and build prosperity and success as part of your future,” the President said.
Building a strong credit history, he said, could help entrepreneurs access further opportunities.
President Ali said the bank aimed to reach groups including women, young people, farmers and people with disabilities.
The Ministry of finance on Monday explained once approved, loans are disbursed directly into the borrower’s bank account, with repayments also made through the banking and financial system.
“The Guyana Development Bank is an investment in your potential. It is an investment in your future, an investment in your idea, an investment in your creativity. Make this investment worth it for you,” the President said.
He stressed that the bank’s support system includes mentorship, entrepreneur skills development and extension services, with the aim of helping borrowers strengthen both their businesses and their personal capabilities.
Dr. Ali was also clear that the money offered through the bank would be provided as loans, not grants.
He urged prospective borrowers to treat the opportunity seriously and to understand the responsibilities that came with it. These included committing time and effort to their businesses, working with discipline, managing their finances and making use of mentorship and community support.