Gov’t to launch 0% interest development bank to support small businesses

President Dr. Irfaan Ali has announced plans to establish a special development banking institution aimed at supporting small and medium-sized enterprises (SMEs) across Guyana.

The bank, he said, will offer loans at zero percent interest and introduce a co-investment model to ease collateral requirements and reduce borrowing costs for local entrepreneurs.

“We will be setting up a special development banking institution that will lend at 0 percent interest to small and medium-sized enterprises, and that will co-invest with the bank to reduce the collateral requirement and interest rate for business loans,” President Ali announced on Friday night as he addressed a public meeting at Industry Market Square.

“These are the things that matter to the Guyanese families,” the President added.

The government also intends to develop a dedicated facility to house small businesses in a safe, high-value, and secure environment—providing entrepreneurs with the infrastructure and dignity they need to grow and succeed.

The initiative forms part of a broader strategy to empower local businesses, enhance economic independence, and create inclusive opportunities for all citizens.