Govt to identify areas along ECD, EBD to open plazas for small businesses – Pres. Ali

As the government moves to regulate street vending along the country’s roadways, it plans to open plazas for small businesses along the East Coast and East Bank of Demerara (ECD).

This is according to President Dr Irfaan Ali, who said on Monday, that “we have to build a more orderly system of growth and development.”

“We can’t have hundreds of shops on the main public road,” he contended.

“And what are we going to do? We’re going to identify critical areas along the East Coast, East Bank, and all of Guyana, where we’re going to build out little open plazas with food court, with proper facilities for the small businesses that are on the public road,” he disclosed.

“We want to build an environment that is safe, secure, beautiful, clean, and humanistic for these businesses. And we’re going to be building them all across the East Coast, all across the East Bank,” he added.

President Ali also rejected potential criticisms that this move disadvantage small businesses, noting that “on one hand, if somebody gets in an accident next to one of the stands”, critics will question, “why the government have these stands out there?”.

Meanwhile, he explained that this move to regulate street vending will be supported by the Guyana Development Bank, which will provide collateral-free, interest-free loans.

The development bank will offer loans up to $3 million at zero interest and without collateral.

The initiative is intended to remove long-standing barriers that have locked thousands of entrepreneurs, particularly young people, out of the financial system.

Beyond the initial $3 million zero-interest facility, the government has already secured agreements with commercial banks to leverage those funds, allowing small business owners to an additional $7 million in financing, at subsidised interest rates as low as 3.5 per cent.

Budget 2026 has set aside US$100 million to kickstart the initiative this year.

President Ali assured that the programme is not intended to compete with the traditional banking sector.

He highlighted that, “as these businesses grow, stabilise, and become more established, they will naturally seek larger financing for expansion. At that stage, they will become clients of the commercial banks, thereby creating new opportunities for lending and strengthening the overall financial system. So, it is a win-win situation for small businesses and the commercial banks over the medium term.”