Govt. talks up development bank to Region Three youths

Apr 17, 2026 News

Young people in Region Three are being urged to position themselves for economic opportunities as the government moves closer to establishing the Guyana Development Bank, which will offer zero-interest loans and no collateral financing for entrepreneurs.

Minister of Public Service, Government Efficiency and Implementation, Zulfikar Ally, alongside Minister within the Ministry of Agriculture, Vickash Ramkissoon, met with youths at West Central Mall in Leonora on Wednesday to sensitise them about the initiative and broader development opportunities.

The development bank is part of a wider transformation agenda aimed at ensuring young Guyanese are prepared for the country’s rapid growth. Minister Ally explained that the proposed financial institution will be a life changer for many and will address longstanding challenges faced by loan seekers.

He said the government has already moved to eliminate these barriers, ensuring young people with sound business ideas can access financing without placing personal assets at risk. Youths were also encouraged to take advantage of other government initiatives, including free tertiary education, the GOAL scholarship programme, and skills training opportunities, all of which are designed to prepare citizens for emerging opportunities.

Meanwhile, Minister Ramkissoon explained that the initiative will provide liquidity for business ventures while removing the burden of high interest rates and collateral requirements that traditionally prevent young entrepreneurs from accessing funding. “We stand here today before the youths of Region Three to tell you that one of the major commitments we made to you is to ensure that the development bank comes into being…so that you can do business, prosper and do great things for yourselves,” he stated.

Both ministers stressed the need for residents to collaborate, think beyond local markets, and tap into regional and international opportunities. Persons in attendance were also reminded of Guyana’s rapid development across sectors, including agriculture, construction, services, and manufacturing. The outreach forms part of a nationwide sensitisation campaign as the government prepares to operationalise the Guyana Development Bank to empower entrepreneurs, expand economic participation, and support inclusive national development. (DPI)

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entrepreneurs, Guyana Development Bank, no collateral financing, Region Three, youths

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