{"id":31338,"date":"2026-08-10T19:18:53","date_gmt":"2026-08-10T23:18:53","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=31338"},"modified":"2026-08-10T19:18:53","modified_gmt":"2026-08-10T23:18:53","slug":"development-bank-to-unlock-new-wave-of-guyanese-innovation","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/development-bank-to-unlock-new-wave-of-guyanese-innovation\/","title":{"rendered":"Development Bank to unlock new wave of Guyanese innovation"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p class=\"wp-block-paragraph\">-by David Clarke <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Guyana Development Bank is being positioned as a potential game-changer for small businesses and emerging entrepreneurs, with the Private Sector Commission saying its focus on startups and underserved borrowers could help unlock a new wave of Guyanese innovation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PSC Chairman Captain Gerald Gouveia Junior says the bank addresses access to affordable financing, which has been a longstanding concern for the private sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For years, access to finance has been one of the private sector\u2019s biggest concerns.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now, with the establishment of the Guyana Development Bank, the Private Sector Commission says a new avenue is opening for entrepreneurs who may not have the collateral or financial history traditionally required by commercial lenders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;<strong>What this development bank is doing is adding more opportunities for the Guyanese entrepreneur, the Guyanese startup, because that&#8217;s really where it&#8217;s geared. It&#8217;s not geared to the very large conglomerates. This is a bank that is geared to startups<\/strong>,&#8221; he said. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bank is specifically geared toward smaller and emerging enterprises, including young entrepreneurs, university graduates and single mothers seeking to turn their ideas into viable businesses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>\u201cIt really opens up the floodgates for Guyanese innovation and Guyanese creativity to start earning some money<\/em><\/strong>,&#8221; he said. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The PSC Chairman says the Development Bank complements the growing number of commercial and development-financing institutions operating in Guyana, rather than competing directly with them.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The broader objective, he says, is to ensure more Guyanese can move from having a business idea to building a sustainable enterprise.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>-by David Clarke The Guyana Development Bank is being positioned as a potential game-changer for small businesses and emerging entrepreneurs, with the Private Sector Commission saying its focus on startups&hellip;<\/p>\n","protected":false},"author":1,"featured_media":31339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,365,366,350],"tags":[370,698,412,405,1109],"class_list":["post-31338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-human-development","category-local-development","category-news","tag-guyana","tag-guyana-development-bank","tag-ncn-guyana","tag-ncn-news","tag-psc"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/31338","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=31338"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/31338\/revisions"}],"predecessor-version":[{"id":31340,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/31338\/revisions\/31340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/31339"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=31338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=31338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=31338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}