Minister of Finance, Dr. Ashni Singh, has hailed the Inter-American Development Bank (IDB) for increasing the approvals of loans to Guyana and net financial flows from the IDB group.

Speaking at the 2026 Annual Meetings of the Boards of Governors of the IDB and IDB-Invest over the weekend in Paraguay, Dr. Ashni Singh, said the IBD continues to ensure the development of critical sectors in Guyana by ensuring timely financing.

 “We underscore the importance of policy-based lending as a flexible and effective development instrument which Guyana has successfully applied across many areas over the years such as justice reform, competitiveness, financial sector strengthening and human services,” Dr Singh said.

The Finance Minister also emphasized the importance of tailoring its lending instruments to national circumstances, including greater use of country systems to strengthen ownership, efficiency and sustainability’.  

On the private sector side, Minister Singh said Guyana welcomes the expanding role of IDB Invest in the country following its capitalization and posited that this country looks forward to increased engagement to support rapidly emerging investment opportunities, including in areas such as transport and energy infrastructure, accelerating productive diversification and competitiveness, unlocking trade opportunities, and deepening regional integration.

With Guyana’s focus on economic diversification, the Finance Minister  also welcomed IDB Lab’s continued focus on innovation, entrepreneurship, and private-sector solutions, which, he noted, are essential for economic diversification and long-term resilience.

He also reaffirmed Guyana’s support for the IDB Group and its reform agenda.

Dr. Singh, has urged also the IDB to expand and tailor its lending instruments to country context and for the Bank to ‘recognize and use local systems’ to that will allow to respond to vulnerabilities in the Caribbean.

 “The countries in the Caribbean region remain amongst the most vulnerable in the world to more frequent and extreme natural disasters, external shocks, and global economic volatility. Our access to resources and financing remains limited, while our fiscal space remains tight to support our development agendas, and for these reasons, we welcome a bigger and better Bank with relevant and appropriate support for our countries. Even as our countries continue to demonstrate resilience, we require flexible financing tools, stronger private sector engagement, and targeted interventions to overcome structural constraints that hamper growth and support resilience,” Dr. Singh explained.

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