{"id":32009,"date":"2026-09-21T18:32:20","date_gmt":"2026-09-21T22:32:20","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=32009"},"modified":"2026-09-21T18:32:20","modified_gmt":"2026-09-21T22:32:20","slug":"development-bank-to-publish-beneficiaries","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/development-bank-to-publish-beneficiaries\/","title":{"rendered":"Development Bank to publish beneficiaries"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p class=\"wp-block-paragraph\"><strong>&#8211; involve communities to promote fairness<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">-by Kristin Josiah<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">President Dr. Irfaan Ali says the Guyana Development Bank will begin processing loan applications when it becomes operational on October 5.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He says the bank will target entrepreneurs across Guyana, including hinterland and riverine communities, with technology helping to expand access.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He says the application process will be simple, but applicants will receive compulsory mentorship, technical assistance and business guidance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He stressed that the financing is a loan, not a grant, and said the programme will help borrowers build credit histories and improve their access to commercial financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The President says the bank will provide up to three million dollars without interest or collateral as an initial financing opportunity, while larger projects can access co-financing through commercial banks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He says the initiative will focus heavily on productive sectors, including agriculture, agro-processing, tourism, manufacturing, creative industries and technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ali says the bank will also encourage groups and business consortia to work together to create larger-scale ventures and supply chains. The President says mechanisms will be put in place to promote fairness and transparency including publicizing beneficiaries and involving community and religious organizations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;<em style=\"font-weight: bold;\">The bank would also have a very fair<\/em> <strong><em>system of publicizing because that&#8217;s what we want the community to know, community involvement. That is why we&#8217;ll have people of influence, leadership, the churches, the temples, the mosque involved. And publication of the list of<\/em><\/strong> <strong><em>persons who are benefiting from the bank<\/em><\/strong>,&#8221; he said. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ali says the wider goal is to diversify Guyana\u2019s economy, expand local production and reduce dependence on oil and gas by creating opportunities across multiple sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; involve communities to promote fairness -by Kristin Josiah President Dr. Irfaan Ali says the Guyana Development Bank will begin processing loan applications when it becomes operational on October 5.&hellip;<\/p>\n","protected":false},"author":1,"featured_media":31904,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350],"tags":[488,370,698,412,405],"class_list":["post-32009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news","tag-488","tag-guyana","tag-guyana-development-bank","tag-ncn-guyana","tag-ncn-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/32009","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=32009"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/32009\/revisions"}],"predecessor-version":[{"id":32010,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/32009\/revisions\/32010"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/31904"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=32009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=32009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=32009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}