The passage of the Guyana Development Bank Bill has been welcomed by the public, particularly young people, who believe the initiative will provide easier access to financing and create new opportunities for entrepreneurship and business development.
Many Guyanese said the bank’s zero interest financing options will remove one of the biggest barriers to starting a business, which is access to affordable capital.
Speaking with the Department of Public Information, Julianna Persaud described the initiative as a major opportunity for young people looking to build a future.
“It would be really good, especially for us young people. To start, we must have a strong foundation for everything we want to do in life. A loan like that would really help to facilitate our goals, and the zero interest option is a huge opportunity,” she said.
Jonathan Young noted that the initiative would be far more supportive than traditional lending institutions.
“It is a lighter load compared to not having anything backing you. It is much easier than going to a regular bank,” Young explained.
Keith Simpson, a senior citizen, said he is eager to benefit from the programme, since he heard of it. He wondered if someone his age can still access the loans.
“That’s why I asked if there’s an age limit, because I see myself taking the very first opportunity available to be a part of that,” he said.
Meanwhile, Kumar Etwaroo described the establishment of the bank as a bold move by the government that will help transform business ideas into reality.
“I think it’s a bold step taken by the government. Most young people have business ideas, but they don’t have the capital to start. This initiative will help them turn those ideas into action,” he said.
Meanwhile, Shakira Rahaman said the bank’s support should extend beyond financing by helping applicants develop solid business plans and complete the necessary documentation.
She noted that many aspiring entrepreneurs struggle with preparing the required documents, adding that access to guidance, along with affordable financing, would make it easier for them to establish successful businesses.
The Guyana Development Bank Bill 2026 was passed in the National Assembly on Monday, making way for the establishment of a new financial institution to improve access to affordable financing for small and medium-sized enterprises (SMEs).