American multinational investment bank, CitiBank is looking at the possibility of entering the Guyana market and setting up operations here.

Over the past two days, a team from the bank’s headquarters in New York has been meeting with Government and Private Sector officials in Guyana as part of an exploratory and fact-finding mission.

The officials held discussions with Foreign Affairs Minister Dr. Karen Cummings on Wednesday and also met with the Private Sector Commission.

Chairman of the PSC, Captain Gerry Gouveia told News Source that the team appears to be looking at the economic possibilities in Guyana as well as the financing of major development pojects.

Captain Gouveia said it is “absolutely good news for the private sector” that CitiBank is looking at doing business in Guyana.

He said he PSC always welcomes foreign investment and when a bank like CitiBank looks at Guyana, that has to be taken seriously and is therefore welcomed.

Mr. Gouveia said the presence of a bank like CitiBank in Guyana would do well for the local banking sector and the business community since the bank’s presence could see more investment capital being made available to support major development projects.

With Guyana starting oil production and the economy expected to see growth by more than 84% this year, the country has been attracting more investors.

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