President Irfaan Ali yesterday shared that Republic Bank has committed to setting aside funding for agricultural loans and that preferential rates were being negotiated, as the government seeks to expand local food production, attract investment and reduce dependence on imports.
Ali made the announcement while delivering the feature address at the Ministry of Agriculture’s Farmers’ Conference 2026 at the Arthur Chung Conference Centre, Liliendaal, Greater Georgetown.
The President said the government was negotiating with commercial banks to introduce incentives, which would allow farmers seeking to establish medium and large-scale operations to access financing at more affordable rates.
“We have currently brought all of the commercial banks together and we are currently negotiating with them to offer the same type of incentive… [offered] for low-income housing… for loans to agriculture,” Ali said.
He added that Republic Bank had already committed to allocating resources for agricultural loans, although the preferential interest rate was still being negotiated. The recently launched Guyana Development Bank, he said, was already attracting interest from the agricultural sector, with almost 30 percent of applications received coming from agriculture-related businesses.
He said the level of interest reflected growing confidence in agriculture as a viable investment opportunity, adding that it contrasted with the situation in 2020, when some farmers and poultry producers were scaling back operations or leaving the sector.
On poultry production, Ali said Guyana’s target was to have 50 percent of its hatching egg requirements by the end of 2027, with the aim of moving closer to full domestic production by the end of 2028. He said some imports would still be necessary to maintain resilience and protect against disruptions to supply.
The President further disclosed that a private poultry investor was preparing to commission a processing plant that would triple processing capacity, strengthening the country’s ability to handle increased local production.
He also announced that domestic production of onions would fulfil local requirements for the first quarter of 2027 and production was expected to begin in Region Nine in January 2027, provided the initiative proceeds as planned.
Ali said the International Monetary Fund’s 2026 country assessment had identified agriculture as an important contributor to economic resilience and diversification. The report, he said, indicated that agriculture had expanded by an average of 10 percent annually since 2022 and accounted for six percent of gross domestic product (GDP) and one-fifth of non-oil GDP.
He said productivity plans would be developed alongside farm-to-market roads and drainage and irrigation projects, with farmers receiving support to determine how land and infrastructure could be used to increase production and connect products to markets. He also advocated for long-term purchasing agreements between farmers and buyers to provide more stable prices and reduce the risks associated with market fluctuations.
The inaugural conference brought together farmers, agricultural stakeholders, policymakers and industry representatives to discuss modernising livestock production, agro-processing, market access, food systems and farmer competitiveness.
Agriculture Minister Zulfikar Mustapha said the forum was established following concerns raised by farmers about the absence of a national platform where they could exchange ideas and discuss common challenges.
Mustapha said the discussions were intended to help shape agricultural policies and programmes, noting that farmers’ experience and participation were essential to the sector’s continued development.
The conference forms part of Agriculture Month 2026, being observed under the theme ‘Innovate, Nourish, Grow: Building a Strong and Sustainable Guyana’.
Source: Kiskadee Watch
