As the Government prepares for the launch of the Guyana Development Bank, it will move to the National Assembly with legislation to govern the operation of the financial institution.

At a press conference on Friday, President Irfaan Ali told reporters that the Bill for the Guyana Development Bank is expected to be laid before the House when the National Assembly reconvenes on June 5, 2026.

“In our parliamentary sitting coming up, I think the legislation will be tabled, and we are hoping to have this bank fully operational. We have done all of the technical work; we have the systems ready to be triggered in place so that we can move ahead,” President Ali said.

Behind the scenes, the Government has also been working to ensure the administrative systems are in place for the bank.

When operationalized, the bank is expected to help finance small and medium-sized enterprise (SMEs). According to the Government, owners of SMEs would be able to access loans of up to $3 million with no collateral or interest.

“The development bank is on track. We are hoping to have the first set of disbursements soon, as soon as we get past the legislative aspect. But operationally and technically, we are more or less in a position to trigger employment and the system,” the President said.

President Ali said the bank will be open to SMEs in all 10 Regions, and through mentorship and support, Guyanese would be urged to formed partnerships to capitalize on existing opportunities.

“A major part of that is financial literacy, coaching, and mentorship, building groups, or what you call cells- five or six persons coming together to unlock greater opportunities and benefit from commercial banks,” he explained.

Initially, US$200 million will be injected into the bank to service SMEs; women led businesses, small entrepreneurs and persons living with disabilities with interest free loans.

While the bank is intended to offer support to SMEs, it will not be a substitute for the formal banking sector but rather will be used as a stepping stone, helping small business owners to move up the formal banking sector and co-finance their operations with traditional financing.

The Guyana Development Bank will focus heavily on investments in a number of critical areas such as Agriculture, Manufacturing and Technology.

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