Development Bank to support startups with US$200M fund
June 8 2026
A new state-backed financing initiative is set to allow Guyanese with viable business ideas—but no land, savings, or collateral—to access up to $3 million in funding.
At the centre of the programme is the Guyana Development Bank, which is in its final stages of preparation before launch. The institution will begin operations with more than US$200 million (approximately GY$40 billion) in initial capital and is expected to extend financing to thousands of applicants traditionally excluded from commercial banking.
The model removes the requirement for collateral, with officials indicating that the application process will be simplified, even easier than opening a bank account. The focus, authorities say, is on ideas with potential rather than existing assets.
The initiative also promotes a cluster-based approach, where groups of entrepreneurs—such as multiple small poultry farmers—can pool resources, access joint financing, and establish medium-scale operations that would otherwise be out of reach individually.
Each business cluster will be assigned a mentor to provide guidance in financial management, planning, and operational development, aimed at improving long-term sustainability and reducing startup failure rates.
Priority sectors include eco-tourism, agro-processing, agriculture, as well as the creative and craft industries within the emerging “orange economy,” with a strong emphasis on youth participation.
The bank is currently awaiting passage of supporting legislation in the National Assembly, while administrative systems are being finalised and staff trained ahead of its rollout across all regions.
To qualify for financing, applicants will be required to submit a business idea or plan, valid identification, and proof of business registration or intent to register. Compliance with National Insurance Scheme (NIS) and Guyana Revenue Authority (GRA) requirements will also be part of the process, with assistance to be provided where needed.
Officials say the initiative is designed to place entrepreneurship and innovation at the centre of economic development.
