Almost 15,000 Guyanese citizens have applied for financing from the Guyana Development Bank (GDB) to date.
President Dr Mohamed Irfaan Ali provided the update Thursday evening during his feature address at the official opening of the Guyana Exposition (GuyExpo) 2026 held at the National Exhibition Centre in Sophia, Greater Georgetown.
The GDB began operating on October 5, offering small and medium-sized enterprises (SMEs) and entrepreneurs loans of up to $3 million with no interest and no collateral. Applicants submitted their requests and supporting documents through the bank’s online platform, gdb.gov.gy.
President Ali said the applicants are being handled without paper, as part of rebuilding government for the digital age.
“We are now assessing the credit scores and the evaluations digitally. We have responded by email to everyone of those applications, without the use of one paper because government is being built for the future,” he said.
He described the bank as part of a wider drive to raise the productivity of every Guyanese by widening how they earn. That includes entrepreneurship, investment and small business, on top of a salary.
The bank has US$100 million in seed capital from Budget 2026. The Guyana Development Bank Act was passed in the National Assembly on July 27 and assented to by the president on July 30.
Women, youth and persons with disabilities are the groups expected to benefit most. The bank also provides mentorship and technical support, and the Small Business Bureau has said it will supply mentors and business-development expertise.
President Ali said the government’s role is to help Guyanese own more businesses, create employment and enable those businesses to compete regionally and internationally.
He said he wants GuyExpo to give businesses access to capital, partnerships and skills development.