A Partnership for National Unity (APNU) says it is prepared to cover the registration costs for at least 30 businesses in Agricola, East Bank Demerara, to help residents formalise their enterprises and apply for financing through the Guyana Development Bank.
APNU said in a Facebook post that MP Dr Dexter Todd announced the offer during a meeting with young people and other Agricola residents at the party’s office in neighbouring McDoom. He was joined by MPs Coretta McDonald and Saiku Andrews. The coalition did not say how residents could apply for the assistance or how the businesses would be selected.
APNU said the initiative was aimed particularly at young people who want to start businesses and earn an income of their own. It said McDonald and Andrews urged residents to practise financial discipline, work together and look for business opportunities in problems their communities need solved.
“A wealthy Guyana means very little if ordinary Guyanese are not afforded the opportunity to build wealth of their own,” the coalition said. It said it planned to hold similar meetings in other East Bank Demerara communities in the coming weeks.
The Guyana Development Bank, launched on October 5, offers interest-free, collateral-free loans of up to $3 million to eligible small businesses and people seeking to start or expand an enterprise. Kiskadee Watch reported that proposals would be assessed and that coaching and mentorship would be compulsory. The maximum loan amount is subject to assessment.
On October 20th President Irfaan Ali estimated that between 15,000 and 20,000 people had applied since the launch. Ali said submissions were being assessed and grouped by the sectors applicants intended to enter. The report gave no figures for loans approved or disbursed.
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