– As Senior Finance Minister tables Guyana Development Bank Bill 2026
Senior Minister in the Office of the President with Responsibility for Finance, Dr Ashni Singh, as part of Government’s broad agenda to improve access to credit and empower citizens, today tabled in the National Assembly the Guyana Development Bank Bill 2026. This Bill caters for the establishment of the Guyana Development Bank, which will promote the development and expansion of Small and Medium Enterprises (SMEs).
The Guyana Development Bank will provide SMEs with access to up to $3 million in micro-credit loans to persons and enterprises at zero interest rate. Importantly, a key aspect of this loan programme is that loans will be paired with mentorship and training to support the growth and development of SMEs.
President Ali, while leading a Cabinet outreach in Region 7 this week, reaffirmed that the Bank is designed to support community driven development, enabling residents to invest in small enterprises, form consortia, and pursue larger projects collectively. The Bank is in keeping with the People’s Progressive Party’s (PPP/C) Manifesto’s commitment to fostering a more inclusive financial system, empowering all Guyanese to access the system and to participate in saving and investment opportunities.
”The Guyana Development Bank will allow us to target you directly, so that you can benefit from soft loans that will allow you to invest in small businesses, that will allow you to come together in a consortium… and do larger projects”, President Ali said.
The development of Guyana’s financial sector is crucial as Government works to empower citizens to benefit from the economic transformation taking place across the country. Access to financing is a central pillar for the establishment, growth, and success of both small and large-scale businesses, and for the economic empowerment of individuals and households. Under the stewardship of the PPP/C Government, Guyana’s financial sector has shown significant improvement across key performance indicators in recent years, reflecting a strengthened economy and robust regulatory oversight.
From the end of 2020 to the end of 2025, total credit to the private sector grew by 104.7 per cent, driven by increased lending to the services, manufacturing, agriculture, and mining and quarrying sectors. Lending for real estate mortgage loans also grew substantially, by 104.6 per cent over the same period. Commercial banks’ deposits surged, growing by 132.8 per cent at the end of 2025 when compared with the position at the end of 2020, driven by rising incomes and improved confidence in the banking system. At the same time, the ratio of non-performing loans (NPLs) has declined from 10.8 per cent at the end of 2020 to 1.3 per cent at the end of 2025, aided largely by a rebound in economic activities post-pandemic, protracted elections and enhanced risk management practices. These trends highlight the country’s financial sector’s resilience and its pivotal role in supporting Guyana’s economic transformation. Government remains committed to working with all stakeholders, including consumers and the private sector, in supporting business development in Guyana, as the administration continues to create the enabling environment for fostering development.