President Irfaan Ali is urging Guyanese to have a positive mindset as his Government is setting the stage to roll out the interest and collateral free, Guyana Development Bank.

Describing the Bank as a game-changer, the President said the Bank will allow young entrepreneurs to build prosperity by providing much needed financing.

Last week, Finance Minister Dr. Ashni Singh, tabled the Guyana Development Bank Bill 2026 in the National Assembly, inching one-step closer to the establishment of the Bank.

Under the Bill, the Guyana Development Bank will provide small and medium size enterprises and budding entrepreneurs with access to loans of up to $3 million at a zero per cent interest rate. The programme will also pair financing with mentorship and training to help businesses grow and improve their chances of long-term success.

The President said thousands are expected to benefit in the first phase.

“The first phase of this development bank, would create opportunities for thousands of Guyanese. We want every single person that would embark on a journey of success and fulfilment with the Guyana development bank to have a positive mindset. Let me say to you that this is a business opportunity, this is loan that is interest free and collateral free, but it’s not a grant, it is meant to allow you to build a business and to build prosperity, to build an enterprise and to build off of our creativity,” the President urged.

The President said while the legislation is going through the National Assembly, work is being done to ensure the smooth setting up of the Development Bank as soon as the legal and administrative procedures are in place.

“The Development Bank is also building ground up, we are building from the grass root up, it is not a top-down approach, that is why, you will see cabinet members and different mentors and leaders from the community, leaders in businesses bringing clusters of persons together, so that we can discuss ideas and strategies and bring similar projects together so we can have shared experience,” the President noted.

The Bank will be made up of a Board of Directors, a CEO, Credit Officers in the various Regions, Financial Analysts, technical officers and facilitators.

The President said the goal is to ensure economic transformation and to invest in talent.

“The Development Bank would of course empower communities, through investments in families and individuals. One of the important aspects of this development bank, it gives us the opportunity now, to invest in the idea of every Guyanese,” the President said.

He said persons benefiting from the Bank must be ready to work hard, as the Government is trying to build a culture of hard work, patience and sacrifice.

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