-by Celestine Chacon
More than 200 young Guyanese gathered on Wednesday at West Central Mall to learn more about the Guyana Development Bank and the opportunities it offers.
Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally and Minister within the Ministry of Agriculture, Vikash Ramkisson led the initiative.
In its 2026 budget, the government has allocated US$100 million through the Guyana Development Bank to facilitate loans of up to $3 million, offering collateral-free and interest-free financing for small businesses.
The Initiative, a brainchild of President Irfaan Ali, is geared towards providing Guyanese entrepreneurs with easier access to financing, to start and grow their businesses.
Kevin Dundas said, “It helps young persons who are venturing in into business to have an understanding of where to go and how to start because they’re also helping you with business proposal and its even greater because it don’t have a lot of interest and zero collateral.”
According to Alicia Linton, the initiative offers a more sustainable avenue for novice entrepreneurs.
“With this whole development stuff that the government bring out here is gonna be amazing because a lot of business people does get 3 million dollar loan and within 3 weeks it gone because its no structure, so with the government putting this in the system its totally amazing,” she said.
For George Mahase, the development bank was a much-needed intervention. “I’m very excited about the bank because this is what I been need, because I do my own food delivery service right here in the west central mall so I need fund to expand my business so this is actually perfect for me,”
Minister Zulfikar Ali emphasised the importance of citizens making full use of the bank, particularly in building their understanding of basic financing and accounting.
“At the end of the day, when you come in and walk out of the development bank with the financing for your project we want to be satisfied and you want to be satisfied that you know exactly what it is you’re going out there to do,” he said.