Guyana Development Bank to reach every Guyanese through mobile app, community desks
The much-anticipated Guyana Development Bank (GDB) will extend access to every Guyanese as the government rolls out a mobile application and dedicated community desks in commercial bank branches nationwide. Through this initiative, the government aims to close the gap for citizens in hinterland, riverine and rural areas who have traditionally been shut out of financing.
President Dr Mohamed Irfaan Ali made the announcement during an open discussion on Sunday with senior representatives from the banking and private sectors, entrepreneurs and community advocates.
The app will let Guyanese apply for financing without visiting a branch, while the desks give the bank an instant presence wherever a commercial bank already operates, from Georgetown to Region Nine.
The bank will also train successful local entrepreneurs in these areas as facilitators, helping residents turn ideas into loan-ready proposals before they apply.
“Someone may come in with a great idea, but we can make the idea stronger. The whole intention is to use this opportunity to build something that is long-lasting, strategic, strong,” President Ali underscored.
President Ali said the approach is deliberately grassroots, built to serve hinterland and riverine communities, agriculture, and tourism alongside urban businesses, so that when the bank launches on October 5, it is ready for all of Guyana from day one.
The bank is expected to begin operations with an initial capital injection of US$100 million, offering eligible borrowers financing of up to G$3 million, including zero interest and zero collateral loans. Mentorship, training, and technical assistance are integral parts of the model.
