Opening ‘new doors’ for Guyanese entrepreneurs – Private Sector welcomes GDB operations
The local private sector has welcomed the operationalisation of the Guyana Development Bank (GDB) on Monday, lauding it as a landmark investment in those who power the economy, small and medium-sized enterprises (SMEs).
The Guyana Manufacturing and Services Association (GMSA) warmly congratulates His Excellency President Dr Irfaan Ali and the Government of Guyana on the launch of the GDB. Established under the GDB Act 2026 and backed by US$100 million in initial capital, the Bank offers loans of up to $3 million at zero interest and without collateral, paired with mentorship and technical support services. The loans are being offered in two categories: a Quick Loan of up to $300,000; and a SME loan between $300,000 to $3 million.
An online digital portal has been established for persons to submit their loan applications and conduct other businesses with the GDB including repayments. Additionally, a new Board of Directors has been appointed to oversee the operations of Bank. The members include: Chairperson, Abu Zaman; Deputy Chairperson, Kathy Smith; and Directors James Bond, Sukrishnalall Pasha, Dion Inniss, Nalinie Singh and Praem Rambharak.
Walk through the door
In a statement on Monday, the GMSA pointed out that for too long, access to affordable finance has stood between a good idea and a growing business. According to the Association, the Bank removes that barrier for entrepreneurs across the country, who are aiming to leapfrog.
“This is a historic time for Guyanese entrepreneurs. The Guyana Development Bank tells every small business owner that their ambition matters to this nation’s future. Our SMEs have talent and determination. What many lack are affordable capital to invest in the technology and systems that let them compete. That door is now open. We commend the Government for this bold move, and we urge our businesses to walk through that door with well-prepared plans and the confidence to think big,” the GMSA noted.
Underscoring the importance of Guyanese companies being ready to compete, the Association said it is preparing to support small businesses across all sectors to make the most of this opportunity.
“As the voice of manufacturing and services in Guyana, the Association will work alongside the Bank and its partners to help SMEs prepare sound business plans, financial records and loan applications; connect entrepreneurs with mentorship, technical expertise and training; link small businesses to buyers, supply chains and new markets… To every manufacturer, farmer, artisan, technician and service provider: this is your moment. Do not wait for opportunity to find you. Put your records in order, define clearly how financing will grow your business, and reach out to the GMSA for support,” the missive detailed.
But even with this new financing opportunity available, the GMSA is urging local businesses to explore opportunities not only within Guyana’s growing economy but in markets across the region. Small companies are also advised to borrow wisely, invest in productivity, and repay faithfully, so that the Bank’s resources keep growing and reach the next entrepreneur in line.
The Guyana Manufacturing and Services Association (GMSA) warmly congratulates His Excellency President Dr Irfaan Ali and the Government of Guyana on the launch of the GDB. Established under the GDB Act 2026 and backed by US$100 million in initial capital, the Bank offers loans of up to $3 million at zero interest and without collateral, paired with mentorship and technical support services. The loans are being offered in two categories: a Quick Loan of up to $300,000; and a SME loan between $300,000 to $3 million.
An online digital portal has been established for persons to submit their loan applications and conduct other businesses with the GDB including repayments. Additionally, a new Board of Directors has been appointed to oversee the operations of Bank. The members include: Chairperson, Abu Zaman; Deputy Chairperson, Kathy Smith; and Directors James Bond, Sukrishnalall Pasha, Dion Inniss, Nalinie Singh and Praem Rambharak.
Walk through the door
In a statement on Monday, the GMSA pointed out that for too long, access to affordable finance has stood between a good idea and a growing business. According to the Association, the Bank removes that barrier for entrepreneurs across the country, who are aiming to leapfrog.
“This is a historic time for Guyanese entrepreneurs. The Guyana Development Bank tells every small business owner that their ambition matters to this nation’s future. Our SMEs have talent and determination. What many lack are affordable capital to invest in the technology and systems that let them compete. That door is now open. We commend the Government for this bold move, and we urge our businesses to walk through that door with well-prepared plans and the confidence to think big,” the GMSA noted.
Underscoring the importance of Guyanese companies being ready to compete, the Association said it is preparing to support small businesses across all sectors to make the most of this opportunity.
“As the voice of manufacturing and services in Guyana, the Association will work alongside the Bank and its partners to help SMEs prepare sound business plans, financial records and loan applications; connect entrepreneurs with mentorship, technical expertise and training; link small businesses to buyers, supply chains and new markets… To every manufacturer, farmer, artisan, technician and service provider: this is your moment. Do not wait for opportunity to find you. Put your records in order, define clearly how financing will grow your business, and reach out to the GMSA for support,” the missive detailed.
But even with this new financing opportunity available, the GMSA is urging local businesses to explore opportunities not only within Guyana’s growing economy but in markets across the region. Small companies are also advised to borrow wisely, invest in productivity, and repay faithfully, so that the Bank’s resources keep growing and reach the next entrepreneur in line.
Opportunity to expand
Meanwhile, the Private Sector Commission (PSC) said the operationalisation of the GDB is a significant milestone in the continued strengthening of the local financial and economic landscape.
“The establishment of the Bank represents an important opportunity to expand access to financing for entrepreneurs, small and medium-sized businesses, and enterprises seeking to grow, innovate and scale their operations. Expanding access to affordable and accessible financing is an area the Commission has consistently advocated for, recognising its importance to business growth, investment and competitiveness,” the private sector umbrella body stated.
By facilitating greater access to capital, supporting business expansion and encouraging investment and job creation, the Commission said the GDB can play a pivotal role in strengthening the private sector and driving broad-based economic growth.
“The Private Sector Commission looks forward to the Bank helping to unlock new opportunities for local businesses, support entrepreneurship and contribute to a stronger, more competitive and dynamic business environment,” the PSC stated.
Meanwhile, the Private Sector Commission (PSC) said the operationalisation of the GDB is a significant milestone in the continued strengthening of the local financial and economic landscape.
“The establishment of the Bank represents an important opportunity to expand access to financing for entrepreneurs, small and medium-sized businesses, and enterprises seeking to grow, innovate and scale their operations. Expanding access to affordable and accessible financing is an area the Commission has consistently advocated for, recognising its importance to business growth, investment and competitiveness,” the private sector umbrella body stated.
By facilitating greater access to capital, supporting business expansion and encouraging investment and job creation, the Commission said the GDB can play a pivotal role in strengthening the private sector and driving broad-based economic growth.
“The Private Sector Commission looks forward to the Bank helping to unlock new opportunities for local businesses, support entrepreneurship and contribute to a stronger, more competitive and dynamic business environment,” the PSC stated.
Business-support pillar
Moreover, the Georgetown Chamber of Commerce and Industry (GCCI) on Monday also welcomed the advancement of the Development Bank, which it says adds a new financing avenue for Guyanese entrepreneurs and SMEs at a time when access to affordable finance remains an important consideration for businesses seeking to start, expand and strengthen their operations.
“GCCI has consistently advocated for an enabling environment in which local businesses can access the financing, technical support and opportunities necessary to become more competitive and sustainable. The Chamber therefore views the development of the Bank as a pillar to Guyana’s evolving financial and business-support ecosystem,” the GCCI stated.
According to the Chamber, with new opportunities emerging across traditional and developing sectors in the country, greater access to capital is critical to ensuring that local businesses are positioned to participate meaningfully in this growth.
“The GCCI looks forward to the Bank developing financing mechanisms that are accessible, responsive to the realities of the local business community and supportive of sustainable enterprise development,” the private sector body stated.
Moreover, the Georgetown Chamber of Commerce and Industry (GCCI) on Monday also welcomed the advancement of the Development Bank, which it says adds a new financing avenue for Guyanese entrepreneurs and SMEs at a time when access to affordable finance remains an important consideration for businesses seeking to start, expand and strengthen their operations.
“GCCI has consistently advocated for an enabling environment in which local businesses can access the financing, technical support and opportunities necessary to become more competitive and sustainable. The Chamber therefore views the development of the Bank as a pillar to Guyana’s evolving financial and business-support ecosystem,” the GCCI stated.
According to the Chamber, with new opportunities emerging across traditional and developing sectors in the country, greater access to capital is critical to ensuring that local businesses are positioned to participate meaningfully in this growth.
“The GCCI looks forward to the Bank developing financing mechanisms that are accessible, responsive to the realities of the local business community and supportive of sustainable enterprise development,” the private sector body stated.
Powerful catalyst
Similarly, the Guyana Oil & Gas Energy Chamber (GOGEC) said the establishment of the GDB represents a landmark milestone in modernising the nation’s financial architecture. GOGEC went onto strongly praise the Government for delivering on its vision of an inclusive economic landscape that directly dismantles long-standing financial barriers for local entrepreneurs, youth, women and emerging enterprises.
Headed by seasoned professionals with deep expertise spanning retail and SME banking, private sector advocacy, financial regulation, legal affairs, aviation, and institutional governance, GOGEC says the Bank is well-positioned to address the systemic hurdles that historically impeded growth especially for micro, small, and medium-sized enterprises (MSMEs).
“As Guyana’s energy sector continues its rapid expansion, meeting stringent local content targets requires robust capitalisation and capacity-building. The Guyana Development Bank serves as a powerful catalyst for GOGEC members; particularly emerging subcontractors, fabrication shops, logistics providers, and professional service suppliers,” the Energy Chamber stated.
GOGEC went onto add that it stands ready to collaborate with the Development Bank and the Government to ensure that local energy enterprises and small suppliers fully harness these financial tools, fostering shared prosperity and driving sustainable Guyanese participation in the national transformation.
Similarly, the Guyana Oil & Gas Energy Chamber (GOGEC) said the establishment of the GDB represents a landmark milestone in modernising the nation’s financial architecture. GOGEC went onto strongly praise the Government for delivering on its vision of an inclusive economic landscape that directly dismantles long-standing financial barriers for local entrepreneurs, youth, women and emerging enterprises.
Headed by seasoned professionals with deep expertise spanning retail and SME banking, private sector advocacy, financial regulation, legal affairs, aviation, and institutional governance, GOGEC says the Bank is well-positioned to address the systemic hurdles that historically impeded growth especially for micro, small, and medium-sized enterprises (MSMEs).
“As Guyana’s energy sector continues its rapid expansion, meeting stringent local content targets requires robust capitalisation and capacity-building. The Guyana Development Bank serves as a powerful catalyst for GOGEC members; particularly emerging subcontractors, fabrication shops, logistics providers, and professional service suppliers,” the Energy Chamber stated.
GOGEC went onto add that it stands ready to collaborate with the Development Bank and the Government to ensure that local energy enterprises and small suppliers fully harness these financial tools, fostering shared prosperity and driving sustainable Guyanese participation in the national transformation.
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Source: Guyana Times
Contents
The local private sector has welcomed the operationalisation of the Guyana Development Bank (GDB) on Monday, lauding it as a landmark investment in those who power the economy, small and medium-sized enterprises (SMEs).
The Guyana Manufacturing and Services Association (GMSA) warmly congratulates His Excellency President Dr Irfaan Ali and the Government of Guyana on the launch of the GDB. Established under the GDB Act 2026 and backed by US$100 million in initial capital, the Bank offers loans of up to $3 million at zero interest and without collateral, paired with mentorship and technical support services. The loans are being offered in two categories: a Quick Loan of up to $300,000; and a SME loan between $300,000 to $3 million.
An online digital portal has been established for persons to submit their loan applications and conduct other businesses with the GDB including repayments. Additionally, a new Board of Directors has been appointed to oversee the operations of Bank. The members include: Chairperson, Abu Zaman; Deputy Chairperson, Kathy Smith; and Directors James Bond, Sukrishnalall Pasha, Dion Inniss, Nalinie Singh and Praem Rambharak.
Walk through the door
In a statement on Monday, the GMSA pointed out that for too long, access to affordable finance has stood between a good idea and a growing business. According to the Association, the Bank removes that barrier for entrepreneurs across the country, who are aiming to leapfrog.
“This is a historic time for Guyanese entrepreneurs. The Guyana Development Bank tells every small business owner that their ambition matters to this nation’s future. Our SMEs have talent and determination. What many lack are affordable capital to invest in the technology and systems that let them compete. That door is now open. We commend the Government for this bold move, and we urge our businesses to walk through that door with well-prepared plans and the confidence to think big,” the GMSA noted.
Underscoring the importance of Guyanese companies being ready to compete, the Association said it is preparing to support small businesses across all sectors to make the most of this opportunity.
“As the voice of manufacturing and services in Guyana, the Association will work alongside the Bank and its partners to help SMEs prepare sound business plans, financial records and loan applications; connect entrepreneurs with mentorship, technical expertise and training; link small businesses to buyers, supply chains and new markets… To every manufacturer, farmer, artisan, technician and service provider: this is your moment. Do not wait for opportunity to find you. Put your records in order, define clearly how financing will grow your business, and reach out to the GMSA for support,” the missive detailed.
But even with this new financing opportunity available, the GMSA is urging local businesses to explore opportunities not only within Guyana’s growing economy but in markets across the region. Small companies are also advised to borrow wisely, invest in productivity, and repay faithfully, so that the Bank’s resources keep growing and reach the next entrepreneur in line.Opportunity to expand
Meanwhile, the Private Sector Commission (PSC) said the operationalisation of the GDB is a significant milestone in the continued strengthening of the local financial and economic landscape.
“The establishment of the Bank represents an important opportunity to expand access to financing for entrepreneurs, small and medium-sized businesses, and enterprises seeking to grow, innovate and scale their operations. Expanding access to affordable and accessible financing is an area the Commission has consistently advocated for, recognising its importance to business growth, investment and competitiveness,” the private sector umbrella body stated.
By facilitating greater access to capital, supporting business expansion and encouraging investment and job creation, the Commission said the GDB can play a pivotal role in strengthening the private sector and driving broad-based economic growth.
“The Private Sector Commission looks forward to the Bank helping to unlock new opportunities for local businesses, support entrepreneurship and contribute to a stronger, more competitive and dynamic business environment,” the PSC stated.Business-support pillar
Moreover, the Georgetown Chamber of Commerce and Industry (GCCI) on Monday also welcomed the advancement of the Development Bank, which it says adds a new financing avenue for Guyanese entrepreneurs and SMEs at a time when access to affordable finance remains an important consideration for businesses seeking to start, expand and strengthen their operations.
“GCCI has consistently advocated for an enabling environment in which local businesses can access the financing, technical support and opportunities necessary to become more competitive and sustainable. The Chamber therefore views the development of the Bank as a pillar to Guyana’s evolving financial and business-support ecosystem,” the GCCI stated.
According to the Chamber, with new opportunities emerging across traditional and developing sectors in the country, greater access to capital is critical to ensuring that local businesses are positioned to participate meaningfully in this growth.
“The GCCI looks forward to the Bank developing financing mechanisms that are accessible, responsive to the realities of the local business community and supportive of sustainable enterprise development,” the private sector body stated.Powerful catalyst
Similarly, the Guyana Oil & Gas Energy Chamber (GOGEC) said the establishment of the GDB represents a landmark milestone in modernising the nation’s financial architecture. GOGEC went onto strongly praise the Government for delivering on its vision of an inclusive economic landscape that directly dismantles long-standing financial barriers for local entrepreneurs, youth, women and emerging enterprises.
Headed by seasoned professionals with deep expertise spanning retail and SME banking, private sector advocacy, financial regulation, legal affairs, aviation, and institutional governance, GOGEC says the Bank is well-positioned to address the systemic hurdles that historically impeded growth especially for micro, small, and medium-sized enterprises (MSMEs).
“As Guyana’s energy sector continues its rapid expansion, meeting stringent local content targets requires robust capitalisation and capacity-building. The Guyana Development Bank serves as a powerful catalyst for GOGEC members; particularly emerging subcontractors, fabrication shops, logistics providers, and professional service suppliers,” the Energy Chamber stated.
GOGEC went onto add that it stands ready to collaborate with the Development Bank and the Government to ensure that local energy enterprises and small suppliers fully harness these financial tools, fostering shared prosperity and driving sustainable Guyanese participation in the national transformation.Discover more from Guyana Times
