Dear Editor,
The next chapter of Guyana’s progress must not only be about what we build, but about how many Guyanese are empowered to benefit from and contribute to the opportunities before us.
The Government of Guyana is investing at an unprecedented pace in roads, bridges, hospitals, schools, housing, agriculture and new industries. Yet one of the most consequential investments we can make is in the productive capacity of our people—giving ordinary Guyanese the means to become entrepreneurs, employers and producers in our rapidly expanding economy.
This is why the establishment of the Guyana Development Bank is both timely and potentially transformative.
Encouragingly, the newly appointed Board reflects a breadth of experience suited to that mission. Under Chairman Abu Zaman and Deputy Chairperson Kathy Smith, the seven-member Board brings together expertise spanning banking and financial management, entrepreneurship and SME development, law, public finance, corporate leadership, governance, institutional reform and youth empowerment. That diversity matters. A Development Bank serving aspiring entrepreneurs cannot be guided by financial considerations alone; it must understand business realities, sound governance, risk, innovation and the practical challenges facing citizens seeking to turn ideas into sustainable enterprises.
Drawing perspectives from both the public and private sectors, the Board will, therefore, add considerable value, as this varied expertise is translated into sound policy, prudent lending, effective oversight and an institution that remains responsive to the people it was created to serve.
Economic growth alone does not guarantee broad-based prosperity. The real test will be whether our farmers, tradespeople, young professionals, small businesses and aspiring entrepreneurs can convert new opportunities into viable enterprises, jobs, productive assets and improved livelihoods.
For too many Guyanese, the obstacle is not a shortage of ideas, skills or ambition—it is access to affordable capital. A farmer may be ready to expand production but cannot finance machinery. A skilled tradesperson may have customers but cannot afford better equipment. A young entrepreneur may have a promising idea but lack the collateral demanded by conventional lenders.
This is the gap the Guyana Development Bank will help close.
The Development Bank is designed to provide financing that enables citizens to establish and expand businesses, increase production and create employment. Just as importantly, it can help channel Guyana’s present economic gains into productive activity capable of generating benefits long into the future.
Citizens, however, must see the Bank as more than another place to borrow money. It is an opportunity to participate directly in building the country’s economic future.
The possibilities are considerable. Farmers can invest in mechanisation, shade houses, livestock, aquaculture and agro-processing. Tradespeople and contractors can acquire equipment and expand their operations. Entrepreneurs can pursue opportunities in manufacturing, tourism, transportation, technology, renewable energy and the maritime economy.
Citizens should also look beyond individual borrowing and consider forming partnerships and consortia to combine capital, skills, experience and business opportunities. By working together, small entrepreneurs may strengthen their ability to access greater levels of financing, share risk and undertake investments beyond the capacity of any one individual. Such arrangements could allow Guyanese businesses not only to expand small enterprises, but also to participate in larger ventures and emerging sectors of the economy that might otherwise remain beyond their reach.
Citizens are encouraged to access this facility and use the finances responsibly. These loans should support activities capable of generating income, employment and lasting value—not merely consumption. Borrowers must, therefore, approach these opportunities with sound business plans, proper financial management and a commitment to repayment.
The success of the Guyana Development Bank would not be measured simply by how much money it lends, but by the sustainable businesses it helps create, the jobs generated, increases in local production and the enterprises that grow into competitive companies.
The opportunity is now before us, and Guyanese must seize it. Farmers, tradespeople, young professionals, creatives, small-business owners and aspiring entrepreneurs should begin preparing viable ideas, sound business plans and productive investments. Government can open the door to capital; we must be prepared to walk through it. Let us use this opportunity not simply to borrow, but to build—to build businesses, create jobs, strengthen communities and secure better livelihoods for ourselves and the generations that follow.
Yours faithfully,
Hon. Thandi McAllister, M.P.
Discussion