Guyana Development Bank launches in Region 5 in two weeks – President Ali

President Dr Mohamed Irfaan Ali said residents of Region Five will soon have access to new financing opportunities through the Guyana Development Bank, which is expected to be launched in the region before the end of the month.

“In two weeks’ time, the ministers will come back to you to launch the Guyana Development Bank,” the president announced.

Addressing residents of Hopetown on Friday, President Ali said the bank will be an important component of the government’s efforts to turn community potential into viable businesses, particularly by supporting young people and women interested in entrepreneurship.

The president said the opportunities available through the bank should be linked to the Model Village Initiative, allowing communities to develop projects that create employment, generate income and strengthen local economies.

He suggested that groups of young people and women in Hope Town could be organised into clusters and mentored to establish ventures such as modern swine production and hydroponic farming.

He said this approach could allow residents to move beyond individual small-scale businesses and develop more sustainable commercial enterprises.

“We want to lay the foundation,” President Ali said, urging residents to begin thinking about the types of ventures they could develop using the resources available within their community.

“If we can find and mentor 30 young persons and women and put them into a cluster, we can develop a modern swine industry. We can develop the hydroponics,” President Ali said.

President Ali encouraged residents to use the upcoming engagement on the Development Bank to present practical business ideas and identify opportunities that can be developed within Region Five.

He said the objective is to create communities where residents’ ambitions are matched by access to investment, describing the government’s approach as a partnership with citizens aimed at creating greater economic empowerment and prosperity. [DPI]