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20,000 applications for loans at Guyana Development Bank
President Dr. Mohamed Irfaan Ali said on Tuesday that the newly launched Guyana Development Bank is attracting significant interest from Guyanese, with an estimated 15,000 to 20,000 persons already applying for support to pursue business ventures and entrepreneurial opportunities.
The head of state made the disclosure during an interview, noting that the strong response, coupled with the convenience of the application process, signals an encouraging start for the national initiative, launched on 5th October. “Imagine launching such a huge national programme. You have maybe 15,000, 20,000 persons who have applied already, without a line, without a single line, without any long line anywhere, just from their bedroom, from their desk, on a cricket field,” President Ali said.
Applications are currently undergoing evaluation, with the relevant teams assessing submissions and categorising applicants according to the sectors in which they intend to invest. He also noted the promising ideas emerging from the applications, including those submitted by young people.
The bank is being designed to combine digital efficiency with a physical presence across the country, allowing applicants to access assistance without creating an extensive bureaucratic structure. The bank is being designed to combine digital efficiency with a physical presence across the country, allowing applicants to access assistance without creating an extensive bureaucratic structure. He urged citizens to obtain their digital identification cards and establish bank accounts, describing these as essential components of the country’s expanding digital framework. “The future that you’re building is built on these important national assets,” the president stated. Meanwhile, the bank’s board is considering candidates for the position of chief executive officer, with the president indicating that an appointment is expected soon. (DPI)
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