With the Guyana Development Bank Bill now passed in the National Assembly, the government has begun preparations to establish the institution, including setting up regional offices and recruiting qualified personnel to support entrepreneurs in the country.
Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, said the bank will have a presence in every administrative region to ensure equitable access to its services.
“The next step is to roll it out in every single region in Guyana. We will have offices that will be set up. We will ensure that everyone in every region knows where these offices are,” the minister said during an interview.
He explained that the bank will employ skilled and qualified staff to assist prospective borrowers, whether they already have a business proposal or are still developing an idea.
According to Ally, staff will guide prospective borrowers in preparing project proposals, training in financial management, and marketing to improve the likelihood of business success.
“Those staff will be trained to help you with developing your project proposal. They will be providing training for you on financial management. They’ll be providing training for you on marketing… We want to make sure that every citizen who receives a loan from the development bank is successful with what they do,” he said.
Ally said the government has already received numerous job applications and will establish a committee to assess candidates.
“We’ve received many applications. We will set up a committee to review those applications to make sure that those persons are very skilled, competent, and qualified for this,” he stated.
He also encouraged suitably qualified individuals interested in joining the Guyana Development Bank to submit applications through his office or to the Ministers of Finance or Tourism.
Among the positions to be filled are project officers, accountants, specialists in project proposal development, and professionals with expertise in financial literacy and marketing.
“We have a lot of project officers that would be required. Accountants would be required as well, and people who have skills in terms of developing project proposals… People who have a lot of skills in training, especially in financial literacy and marketing as well,” Ally said.
The Guyana Development Bank is being established to provide financing and business support to entrepreneurs. Eligible applicants will be able to access zero-interest, zero-collateral loans of up to $3 million to start or expand their businesses.