The Guyana Development Bank (GDB) is moving into operation with its online portal going live as of October 5, while locations for physical help desks and the staff who will assist prospective applicants are expected to be announced later this week.
Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, said the development marks an exciting time for Guyanese, noting that the bank’s board is now in place and work has commenced to ensure citizens can easily access its services.
Minister Ally is encouraging persons interested in accessing financing to visit the bank’s online platform, sign up and provide their relevant information.
He explained that the application process has been designed to be simple and accessible, particularly for persons seeking loans between $50,000 and $300,000.
Applicants will be required to provide their name and E-ID or passport number. Persons using their E-ID number will have several fields automatically populated, making the Know Your Customer (KYC) process easier.
For loans above $300,000 and up to $3 million, applicants will be required to provide more detailed information on how the financing will be used, including relevant business proposals and plans.
Minister Ally said the digital process is designed to accommodate persons regardless of their level of technological experience. Physical assistance will also be available to persons who may require help.
GDB help desks will be established at selected service centres and commercial banks, with staff available to assist persons with their applications.
A list of the locations and the staff assigned to the help desks is expected to be made public by the end of this week.
The GDB online platform is accessible at gdb.gov.gy.