{"id":26957,"date":"2025-03-17T21:20:16","date_gmt":"2025-03-17T21:20:16","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=26957"},"modified":"2025-03-17T21:20:17","modified_gmt":"2025-03-17T21:20:17","slug":"gbti-launches-invoice-financing-for-oil-and-gas-sector","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/gbti-launches-invoice-financing-for-oil-and-gas-sector\/","title":{"rendered":"GBTI Launches Invoice Financing for Oil and Gas Sector"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p><em>By Delicia Janneire | February 14, 2025<\/em><\/p>\n\n\n\n<p>The Guyana Bank for Investment and Trade (GBTI) has launched an invoice financing initiative aimed at supporting local businesses supplying goods and services to ExxonMobil Guyana. <\/p>\n\n\n\n<p>This new facility allows registered suppliers with approved invoices from the oil giant to access advanced financing of up to 80% of their invoice value.<\/p>\n\n\n\n<p>Announced at a launch event held at GBTI\u2019s headquarters on Friday, the initiative is designed to ease cash flow challenges for businesses with a proven track record in the sector. <\/p>\n\n\n\n<p>Minister of Finance Dr. Ashni Singh described the move as a significant step in transforming the financial sector. <\/p>\n\n\n\n<p>He also urged financial institutions to expand similar offerings to other industries where credit risks are manageable.<\/p>\n\n\n\n<p>GBTI\u2019s Chief Commercial Officer, Rawattie Mohandeo, outlined the key features of the initiative, emphasizing that invoices will serve as collateral, eliminating the need for traditional hard assets. <\/p>\n\n\n\n<p>Businesses can access financing with a cost-effective interest rate of 1.25% per month.<\/p>\n\n\n\n<p>GAICO Construction and General Services Inc. has become the first private sector company to utilize the new financing service.<\/p>\n\n\n\n<p>The initiative marks a major milestone in enhancing financial accessibility for businesses operating in Guyana\u2019s expanding oil and gas sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Delicia Janneire | February 14, 2025 The Guyana Bank for Investment and Trade (GBTI) has launched an invoice financing initiative aimed at supporting local businesses supplying goods and services&hellip;<\/p>\n","protected":false},"author":4,"featured_media":20771,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350],"tags":[],"class_list":["post-26957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=26957"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26957\/revisions"}],"predecessor-version":[{"id":26958,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/26957\/revisions\/26958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/20771"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=26957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=26957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=26957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}