Guyana Launches Development Bank to Expand Credit Access Nationwide

The Guyana Development Bank Bill has been passed by the National Assembly, creating a state‑run bank aimed at providing zero‑interest, collateral‑free micro‑credit to small entrepreneurs, farmers, fisherfolk and other underserved groups. The legislation seeks to remove the barriers that commercial banks impose, such as collateral and credit‑history requirements, and to stimulate inclusive economic growth.

The government will establish a branch in every administrative region, recruiting qualified staff to assist borrowers with project proposals, financial‑management training and marketing support. Minister of Public Service Zulfikar Ally said the rollout will ensure that citizens across all regions know where to obtain loans and receive guidance to improve business success.