Guyana's small and medium-sized enterprises are about to receive a transformative boost. The government is establishing the Guyana Development Bank, a new financial institution capitalised at a minimum of US$200 million, specifically designed to provide affordable, accessible financing to entrepreneurs across the country. For the first time, Guyanese business owners will be able to access zero-interest, zero-collateral loans of up to GYD $3 million -- and potentially up to GYD $10 million through co-financing with commercial banks.
This guide covers everything announced so far about the Development Bank: who qualifies, how much you can borrow, which sectors are prioritised, and how to prepare your business to apply when the bank becomes operational.
Quick Links
- mintic.gov.gy — Ministry of Tourism, Industry & Commerce Oversees SME development policy and the Development Bank initiative. +592-226-2505
- guyanainvest.gov.gy — GO-Invest Investment facilitation, business support, and sector guidance for entrepreneurs. +592-225-0658
- dcraguyana.com — DCRA (Business Registration) Register your business before applying for Development Bank financing. +592-225-4358
- gra.gov.gy — Guyana Revenue Authority (TIN) Obtain your Tax Identification Number, required for loan applications. +592-227-6060
Status Update (as of April 2026)
The Guyana Development Bank is not yet operational. As of February 2026, legislation is still being finalised by the Attorney General's Chambers, and the Development Bank Fund Bill was listed among 45+ bills to be tabled in the National Assembly in 2026. The government has allocated an initial US$100 million in the 2026 National Budget. No launch date has been confirmed. Details such as specific application forms and office locations will be announced once the bank opens. This guide will be updated as new information becomes available.
What Is the Guyana Development Bank?
The Guyana Development Bank is a new government-backed financial institution announced as part of the PPP/C Administration's 2025 Manifesto. Its primary mission is to bridge the financing gap that has historically prevented small businesses from accessing affordable capital in Guyana.
Unlike traditional commercial banks that require collateral, charge high interest rates, and often reject SME applications, the Development Bank is purpose-built to support entrepreneurs -- particularly those who have been underserved by the existing financial system.
Key Difference from Commercial Banks
Commercial banks in Guyana typically charge 8-14% interest on business loans and require significant collateral (often property or fixed assets). The Development Bank eliminates both barriers for loans up to GYD $3 million, and negotiates preferential rates below 4% for co-financed amounts above that threshold.
Loan Offerings
The Development Bank offers a two-tier financing structure designed to meet different levels of business need:
Tier 1: Direct Bank Loans
- Interest rate: 0% (zero)
- Collateral: None required
- Source: Directly from the Development Bank
- Ideal for: Micro and small enterprises, startups, first-time borrowers
Tier 2: Co-Financed Loans
- Interest rate: Below 4% (preferential)
- Collateral: Reduced requirements
- Source: Through commercial bank partners
- Ideal for: Growing businesses needing larger capital
Combined Maximum: Up to GYD $10 Million
Eligible SMEs can access up to GYD $3 million interest-free directly from the Development Bank, plus up to GYD $7 million from commercial banks at preferential rates -- for a total potential financing package of GYD $10 million (~US$48,300).
Priority Groups
While all SMEs in Guyana will be eligible to apply, the Development Bank is specifically designed to prioritise groups that have traditionally faced the greatest barriers to financing:
Youth Entrepreneurs
Young Guyanese starting or expanding their first business will receive priority access to loans and mentorship support through the bank's training programmes.
Women-Owned Businesses
Women entrepreneurs will be prioritised to help close the gender financing gap and support female-led enterprises across all sectors.
Persons with Disabilities
Persons living with disabilities who wish to start or grow a business will have priority access to Development Bank financing and support services.
Target Sectors
The Development Bank places heavy emphasis on sectors that contribute to Guyana's economic diversification and value creation. While the bank will serve SMEs across all industries, the following sectors are specifically highlighted:
Agriculture & Agro-Processing
Farming, food processing, rice, sugar, livestock, aquaculture, and agricultural technology
Tourism & Hospitality
Hotels, eco-lodges, tour operators, restaurants, and tourism-related services
Services
Professional services, technology, logistics, maintenance, consulting, and trade
Creative Industries
Arts, music, film, fashion, crafts, digital media, and cultural enterprises
Innovation & Value Creation
The bank will also consider any activity linked to value creation and innovation. If your business idea adds value to Guyana's economy -- even if it doesn't fall neatly into the sectors above -- you may still qualify for financing.
Beyond Loans: Training & Mentorship
The Development Bank is more than just a lending institution. It will include built-in support services to help entrepreneurs succeed:
- Business proposal assistance: Bank staff will help entrepreneurs draft and refine their loan proposals and business plans
- Training programmes: Skills development and upskilling components so that beneficiaries can better manage and grow their businesses
- Mentorship: Access to mentoring from experienced business leaders and advisors
- Co-investment facilitation: The bank will facilitate connections with commercial banks for co-financed loans at preferential rates
How to Prepare: Getting Ready to Apply
While the bank has not yet announced specific application procedures, you can take several steps now to be ready when applications open:
Register Your Business
You will need a legally registered business entity. Register with the Deeds and Commercial Registries Authority (DCRA) as a sole proprietorship, partnership, or company.
See our Business Registration Guide for the complete step-by-step process.
Obtain Your TIN
Register for a Tax Identification Number (TIN) with the Guyana Revenue Authority (GRA). This is essential for any formal business transaction in Guyana.
See our TIN Guide for details on obtaining your Tax Identification Number.
Prepare a Business Plan
Even though the bank will assist with proposals, having a draft business plan ready will accelerate your application.
Gather Supporting Documents
Prepare the documents that are likely to be required when applications open:
Apply When the Bank Opens
Once the Development Bank is operational, submit your application along with your business plan and supporting documents. The bank will review your proposal and, if approved, disburse the loan funds.
Timeline & Legislative Progress
July 2025
Government announces plans to launch a zero-interest Development Bank to support small businesses.
October 2025
Vice President Jagdeo confirms the bank will be capitalised at US$200 million and fully operational by end of 2026. Initial funding to be disbursed in tranches.
November 2025
Government confirms minimum US$200M capitalisation. President Ali announces zero-interest, zero-collateral loans up to GYD $3M with additional $7M through commercial banks.
January 2026
Budget 2026 allocates initial US$100 million for the Development Bank. Priority groups confirmed: youth, women, and persons with disabilities.
February 2026
Attorney General's Chambers still working on finalising the legislation. The Development Bank Fund Bill listed among 45+ bills to be tabled in the National Assembly in 2026. Administrative, legal, and regulatory framework being crafted.
April 2026
Bank is still not operational. Legislation has not yet been passed. No official launch date announced.
Connection to Existing Business Services
The Development Bank does not replace existing business registration requirements. It adds a new financing layer on top of Guyana's established business framework. Here is how the bank fits into the broader picture:
Budget 2026 Business Incentives
The Development Bank is part of a broader package of business-friendly measures announced in Budget 2026. Here are other incentives that may benefit your business:
Zero Corporate Tax
Agriculture, agro-processing, childcare, and elderly care businesses now pay zero corporate tax in Guyana.
Tax Holidays
Up to 10-year tax holidays available through GO-Invest for approved projects in priority sectors.
Reduced VAT
Standard VAT rate of 14%. Businesses below GYD $15M annual turnover are exempt from mandatory VAT registration.
Lower Commercial Rates
Commercial banks will be required to offer interest rates below 4% and reduce collateral requirements for SME borrowers.
Ready to Start Your Business?
While the Development Bank prepares to open, get your business registered and ready to apply. Our step-by-step Business Registration Guide walks you through the entire process.
Business Registration GuideFrequently Asked Questions
What is the Guyana Development Bank?
The Guyana Development Bank is a new government-backed financial institution capitalised at US$200 million, specifically designed to provide zero-interest, zero-collateral loans to small and medium-sized enterprises (SMEs) in Guyana. It was announced as a key commitment of the PPP/C government and is expected to become operational in 2026.
How much can I borrow from the Development Bank?
SMEs can access up to GYD $3 million (~US$14,500) in zero-interest, zero-collateral loans directly from the Development Bank. An additional GYD $7 million (~US$33,800) may be available through co-financing with commercial banks at preferential interest rates below 4%. The combined maximum is GYD $10 million (~US$48,300).
Do I need collateral for a Development Bank loan?
No. Loans up to GYD $3 million from the Development Bank require zero collateral. For the additional co-financed portion through commercial banks (up to GYD $7 million), reduced collateral requirements will apply compared to standard bank loans.
Who qualifies for Development Bank loans?
All small and medium-sized enterprises in Guyana can apply. Priority is given to youth entrepreneurs, women-owned businesses, and persons living with disabilities. Target sectors include agriculture, tourism, services, and creative industries, though businesses in any sector may qualify.
When will the Development Bank open?
As of April 2026, the bank is not yet operational. Legislation is still being finalised by the Attorney General's Chambers, and the Development Bank Fund Bill is among 45+ bills to be tabled in the National Assembly in 2026. The government allocated an initial US$100 million in the 2026 National Budget but no official launch date has been announced. Specific opening dates and application procedures will be communicated by the government once the legislation is passed.
Do I need to register my business first before applying?
Yes. You will need a legally registered business to access Development Bank financing. Register with the Deeds and Commercial Registries Authority (DCRA) and obtain a Tax Identification Number (TIN) from the GRA before applying.
Can I use the loan for any business purpose?
The bank focuses on activities linked to value creation and innovation. While priority sectors include agriculture, tourism, services, and creative industries, any SME contributing to economic growth may qualify. Specific eligible use-of-funds criteria will be announced when the bank opens.
Will the bank help me write a business plan?
Yes. The Development Bank will include a training and upskilling component. Bank staff will help entrepreneurs draft proposals and business plans, and mentorship programmes will be available to help beneficiaries succeed.
What about commercial bank interest rates?
As part of the Development Bank initiative, commercial banks will be required to lower interest rates to below 4% and reduce collateral requirements for SME borrowers. This applies to the co-financed portion of loans above GYD $3 million.
Can rice farmers or agricultural cooperatives apply?
Yes. Agriculture and agro-processing are priority sectors. Rice farmers and other agricultural producers have been specifically encouraged to form consortiums and tap into zero-interest loans through the Development Bank.
Useful Contacts
Ministry of Tourism, Industry and Commerce
GO-Invest (Guyana Office for Investment)
Deeds and Commercial Registries Authority (DCRA)
Guyana Revenue Authority (GRA)
Last updated: April 1, 2026. The Guyana Development Bank is not yet operational as of this writing. All details are based on official government announcements and may change as the legislation is finalised. Always verify current information with the Ministry of Tourism, Industry and Commerce, Department of Public Information, and relevant authorities. This guide is for informational purposes only and does not constitute financial or legal advice.