The National Assembly on Monday passed the Guyana Development Bank Bill 2026, clearing the way for the establishment of a new financial institution that will provide interest-free, zero-collateral loans to small businesses and aspiring entrepreneurs.
The legislation was approved despite repeated disruptions during the parliamentary sitting, as opposition members staged protests over unrelated matters.
During debate on the bill, Senior Minister in the Office of the President with Responsibility for Finance, Dr. Ashni Singh, said the new bank will remove longstanding barriers to financing by making capital more accessible to Guyanese seeking to start or expand businesses.
Dr. Singh said the legislation represents a major step in broadening economic opportunities and empowering a new generation of entrepreneurs through affordable access to financing.
Meanwhile, Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, also supported the bill, describing the Development Bank as an important tool for expanding entrepreneurship and strengthening economic growth.
Under the legislation, eligible small business owners will be able to access loans of up to $3 million without the need for collateral or the payment of interest.
The Government has said the Development Bank is intended to stimulate entrepreneurship, create employment opportunities and expand access to financing for small and emerging businesses across Guyana.