Small businesses in Port Mourant could gain improved access to financing through business clusters under a proposed initiative involving the Guyana Development Bank (GDB).
The proposal was presented to residents by President Dr Mohamed Irfaan Ali during his Model Village Initiative consultation in the East Berbice-Corentyne community on Saturday.
Port Mourant is a predominantly agricultural community, and President Ali said the initiative will target the area’s agricultural base.
“[We will] establish clusters that we want to work with on the Guyana Development Bank so that we can have hatchery, the tunnel house programme, the shade house programme here,“ President Ali stressed.
He said the Senior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh; Minister of Agriculture Zulfikar Mustapha and Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, will return to Region Six in two weeks to launch the GDB with residents, alongside regional officials.
“Those persons [will come] to start working with you in clusters so that you can have the maximum gains out of the development bank,” President Ali said.
The National Assembly passed the Guyana Development Bank Act 2026 last month, paving the way for the institution’s creation.
It was designed to address longstanding challenges faced by small entrepreneurs, community groups and individuals who often struggle to access traditional financing due to collateral requirements and limited credit history.
Through affordable financing options, including zero-interest and zero-collateral loans of up to G$3 million for eligible borrowers, the development bank will support Guyanese seeking to establish or expand businesses in key sectors such as agriculture, agro-processing, manufacturing, tourism, services and technology.