…as Ministerial team engages new Board of Directors

The Guyana Development Bank (GDB) officially commenced operations on Monday, offering two categories of loans with no collateral required and free of any interest.

With an initial capital of US$100 million, the state-backed financial institution is offering loans of up to G$3 million to citizens as well as small and medium-sized enterprises (SMEs) to either start a new venture or expand existing businesses.
Beneficiaries can choose from two categories of loans: Quick Loans, which are loans below $300,000 for which a simplified process and reduced documentation are required, and SME loans, which are between $300,000 and $3 million and require additional documentation to be submitted.
To allow for easy access by citizens in all 10 regions across the country, the Development Bank will operate via an online digital platform at https://gdb.gov.gy/, which will facilitate the submission of loan applications and other relevant supporting information.
The same platform will also be used by borrowers to manage their loans throughout their entire lifecycle, including during the repayment period.
Once approved, the loan is disbursed directly into the borrower’s bank account, and repayment is also done through the banking and financial system.
Alternatively, the platform also provides an option to request an appointment to meet an officer of the bank for face-to-face assistance, thereby ensuring widespread accessibility throughout the country. While there is no physical building for the GDB, the state-back institution would have help desks set up at various commercial bank branches across the country to engage applicants.

1st Board meeting
Meanwhile, in keeping with the GDB Act that was passed in the National Assembly back in July, a seven-member Board of Directors has been established to oversee the operations of the institution.
Leading the Development Bank is Chairman Abu Zaman, who brings more than a decade of senior leadership in governance, financial services, institutional oversight, and small business development. President of the Georgetown Chamber of Commerce and Industry (GCCI), Kathy Smith, will serve as the Deputy Chairperson of the bank, bringing expertise that spans business, energy, workforce development, and SMEs capacity building.
Additionally, the five Board Directors named are Finance Secretary at the Ministry of Finance, Sukrishnalall Pasha; Attorney-at-Law and businessman, James Bond; Sales Executive for Caribbean Airlines in Guyana and Suriname, Dion Inniss; governance reform strategist Nalinie Singh; and member of the President’s Youth Advisory Council, Praem Rambharak.
On Monday, Senior Minister with Responsibility for Finance Dr Ashni Singh, alongside Tourism, Industry and Commerce Minister Susan Rodrigues, and Public Service, Government Efficiency and Implementation Minister Zulfikar Ally met with the new Board members.
Over the past few months, the Government has been ramping up its education programme to sensitise citizens across the country about the financial institution that is seeking to target young people, women and vulnerable groups.
The Development Bank is designed as a complete support ecosystem that helps businesses start, grow and succeed.

Beyond access to financing, the bank will offer guidance, technical support, business development services, mentorship, and capacity-building programmes to help entrepreneurs make informed decisions, strengthen their operations, and eventually graduate into the wider commercial banking system. Moreover, under a co-financing arrangement, borrowers would also be able to unlock additional financing of up to $7 million from traditional lending institutions, at favourable interest rates, to further expand their businesses.

Opportunities for everyone
Guyanese are being encouraged to take advantage of the opportunities offered by the Development Bank.
“Our country’s growth must mean something to you. It must create an opportunity for a single mother, for every family, for every young person to see themselves as part of the future,” President Dr Irfaan Ali stated in a video message to commemorate the operationalisation of the GDB.
“The Guyana Development Bank is an investment in your potential. It is an investment in your future, an investment in your idea, an investment in your creativity. Make this investment worth it for you, and of course, your country… we want this opportunity to reach the unreached. Every woman, persons living with disability, our young people, our farmers, every single stakeholder. We want the Development Bank to reach you, to give you the opportunity… That is why it’s going to be easy, accessible, digital,” the president posited.
The establishment of the GDB Act was passed in the National Assembly back in July, paving the way for its operationalisation – a 2025 Elections Manifesto promise by the People’s Progressive Party/Civic (PPP/C) to ensure that Guyanese are supported to participate in the country’s transformation.
Unleash wave of entrepreneurship
During Monday’s inaugural Board meeting, the Finance Minister highlighted the potential of the Development Bank to unleash a wave of entrepreneurship unlike anything ever seen in the country’s history.
“Because every single small business owner who is going to access a loan facility through the GDB, we would like to see every one of them invest the resources in a viable business idea and grow their business as well as manage their business responsibly so that their business grows not only to utilise the $3 million loan facility being provided by the GDB but so that they could graduate upwards into accessing loans from the formal financial system – the traditional commercial banks – and grow their business even more,” Dr Singh re-emphasised.
Additionally, Minister Rodrigues, under whose portfolio the bank falls, noted that the Bank can help to develop, in addition to traditional, new and emerging sectors of the economy.
“We may see new scenarios and people coming up with new proposals that they won’t ordinarily take to a commercial bank but there is great value in that idea,” Minister Rodrigues said as she urged the bank to be innovative as well in consideration of prospective applicants who may have proposals outside of the norm.
In addressing the new board members, Minister Ally outlined the Government’s aim to allow more people from across the country with brilliant ideas to be able to capitalise on them.
“My Ministry will always be there to ensure efficiency in implementation,” Minister Ally said as he referenced Government’s digitisation policy and the fact that the new bank includes the active website that allows persons to submit their applications and proposals.

President Dr Irfaan Ali on Monday said that the growing use of artificial intelligence (AI) in education demands a new approach to student assessment, as teachers face increasing challenges in determining whether students’ work reflects their own understanding and effort or is substantially produced by AI.
The Head of State made this revelation in a post on his social media page at the height of Teachers’ Day celebrations, seeking to bring greater attention to the challenges and opportunities presented by AI in education.
According to the Guyanese leader, the world of AI is bringing about a significant shift in education and changing how students understand and engage with basic lessons.
“Artificial intelligence (AI), in particular, is changing how knowledge is accessed, understood and produced. Used wisely, it can assist teachers in preparing lessons, developing educational materials, adapting instruction to individual needs and making learning more interactive and engaging. But technology can never replace the teacher. It cannot replace the wisdom, judgement, empathy and understanding of a teacher.”
Using this as the basis of his remarks, President Ali said AI cannot replace the encouragement given to a struggling student, the recognition of a child’s potential, or the patience required to help students overcome difficulties. He noted that AI also presents new challenges for assessing students’ work.
“Teachers must increasingly determine whether an assignment reflects a student’s own understanding and effort or has been substantially produced by AI. This requires us to rethink not only how we assess learning, but what learning means in an age of artificial intelligence.”
Appreciation & gratitude
Amid the observance of World Teachers’ Day, President Ali extended his appreciation and gratitude to teachers, past and present, for their invaluable contribution to children and the development of the country. The Head of State noted that this year’s observance comes at a time when Guyana’s education system is undergoing significant transformation, with classrooms rapidly evolving through the integration of smart classrooms, digital technologies, online resources and AI.
He said while these developments present extraordinary opportunities for education, they also bring new challenges for teachers.
“The answer is not to reject technology, but to teach our children to use it responsibly, ethically and intelligently—to question information rather than simply accept it, to understand answers rather than merely obtain them, and to exercise sound judgement about when and how technology should be used.”
However, President Ali stressed that teachers must also be well equipped for this journey, requiring a new level of pedagogical readiness.
“Our teachers must continually upgrade their knowledge and skills. Teachers must equip themselves with the knowledge, skills and understanding of how new technologies work and, more importantly, how they can be used to improve learning. Our teachers must also remain central to educating, empowering and inspiring the next generation. I urge all teachers to continue to inspire minds, shape character and help build the Guyana of tomorrow.”
President Ali said his Government remains committed to providing teachers with greater access to training, professional development and the resources needed to equip them with the competencies required for the classroom of the future.
He also reaffirmed the Government’s commitment to better pay, improved allowances, grants to support teaching and learning, increased training opportunities and measures aimed at boosting morale among teachers.
Only in August this year, the Guyana Times reported that the Ministry of Education had announced plans to expand the Guyana Digital School (GDS) to accommodate learners across additional grade levels. The platform was initially opened to students in Grades 10 and 11, attracting more than 20,000 students from across the Caribbean, with the Ministry subsequently committing to expanding access to learners in other grades.
Important role of teachers
Similarly, in a related comment, Education Minister Sonia Parag took to social media to express her appreciation to teachers across Guyana.
In a video posted on her social media pages, Parag emphasised the important role teachers play in shaping children’s lives and highlighted their contribution to the development of society.
“As we observe World Teachers Day, I cannot emphasise enough the important role that a teacher plays in shaping a child’s life… We have long recognised that this is a profession that plays such an important role in the development of society.”
Parag said the hard work of teachers in Guyana has not gone unnoticed, particularly the lengths teachers have taken to ensure children are abreast with respective topics in schools, most especially where long term influence is concerned.
“I wish to thank all of those amazing teachers who go above and beyond for their students, because I know many of you take your students’ successes personally. I have always believed that when a teacher enters a classroom, that teacher is not just an instructor. And I’ve also believed that when a child enters a classroom for the first time, that a teacher has the opportunity to positively influence that child.”
She added, “Beyond their professional development, there is also personal development, because many of you are not just teachers, you’re also parents, and many of you are now homeowners as well. Many of you are parents who are also benefiting from the Because We Care cash grant for your children who are in the school system. And as we observe World Teachers Day today, I wish you all the success in the school year 2026-2027.”
As of November 2025, it was reported that the Cyril Potter College of Education (CPCE) had produced more than 6,000 trained teachers since 2020, with the latest cohort of 1,345 newly trained educators now joining the teaching profession.

Home Affairs Minister Oneidge Walrond has said that Guyana’s law enforcement and other relevant agencies are working to ensure that the country does not become a safe haven or transshipment point for transnational criminal organisations seeking to move illicit drugs to markets in Africa and Europe.
The Minister made the comment during the latest episode of the Starting Point Podcast, where she reaffirmed the Government’s position that Guyana will not be allowed to become a hub for international drug trafficking.
She added that local drug enforcement bodies, along with other state agencies, are working with international partners to disrupt criminal networks that may seek to exploit Guyana’s geographic location, porous borders, and transportation networks to facilitate the movement of narcotics.
“The drug trade in Guyana has become, and the approach to it has become more transnational. Our fight against drugs is not a one-agency approach anymore. We have, it has to be inter-agency,” she added while praising the Customs Anti-Narcotics Unit (CANU) and the Guyana Police Force (GPF) for doing a tremendous job with respect to seizures.
She nevertheless added that the biggest issue is the fact that Guyana is a transshipment point and that drugs are moving through Guyana to get to the African and European markets.
“The policies, programmes, and operations that we are currently implementing are to circumvent that. People, transnational criminal organisations, should not find a safe haven in Guyana. And that is what we have been able to uproot.”
“So, cooperation with Interpol and the US (United States) Marshal Service, we have cemented and built on those relationships, and we are doing more in terms of combating drugs through these transnational organisations and organised crime,” the Minister added.
Only recently, Director of CANU James Singh stated that with an increase in the number of drugs intercepted in Guyana during the first half of this year, the unit has observed a growing push by foreign traffickers to move narcotics through the country.
He related that the traffickers are moving to get the drugs into markets where the demand and prices are higher, with fewer risks. He noted that Guyana makes for an easy route to pass the narcotics through. “Guyana, being in the middle between the suppliers and the consumers… indeed, there’s been a bigger push to move the narcotics through [here],” Singh stated.
In fact, he pointed to a major operation recently that involved a foreign drug-trafficking organisation that attempted to bring narcotics into Guyana and have them further transshipped. Just last month, Singh indicated that the majority of the drugs, especially cocaine, that are seized in Guyana come from neighbouring Venezuela. Despite this, however, the anti-narcotics agency, working in collaboration with local and overseas partners, has managed to put a dent in the local and transnational narcotics drug trafficking networks, with increased interceptions and drug seizures recorded.
Back in August, CANU destroyed over 1,243 kilograms (kg) of narcotics, with an estimated local street value of some GY$429,797,900.
Among the narcotics destroyed by fire were 81. 2678 kg of cocaine, 1,161 .767 kg of cannabis, 0. 214 kg of methamphetamine, and some 0. 1 kg of crystal meth.

The local private sector has welcomed the operationalisation of the Guyana Development Bank (GDB) on Monday, lauding it as a landmark investment in those who power the economy, small and medium-sized enterprises (SMEs).
The Guyana Manufacturing and Services Association (GMSA) warmly congratulates His Excellency President Dr Irfaan Ali and the Government of Guyana on the launch of the GDB. Established under the GDB Act 2026 and backed by US$100 million in initial capital, the Bank offers loans of up to $3 million at zero interest and without collateral, paired with mentorship and technical support services. The loans are being offered in two categories: a Quick Loan of up to $300,000; and a SME loan between $300,000 to $3 million.
An online digital portal has been established for persons to submit their loan applications and conduct other businesses with the GDB including repayments. Additionally, a new Board of Directors has been appointed to oversee the operations of Bank. The members include: Chairperson, Abu Zaman; Deputy Chairperson, Kathy Smith; and Directors James Bond, Sukrishnalall Pasha, Dion Inniss, Nalinie Singh and Praem Rambharak.
Walk through the door
In a statement on Monday, the GMSA pointed out that for too long, access to affordable finance has stood between a good idea and a growing business. According to the Association, the Bank removes that barrier for entrepreneurs across the country, who are aiming to leapfrog.
“This is a historic time for Guyanese entrepreneurs. The Guyana Development Bank tells every small business owner that their ambition matters to this nation’s future. Our SMEs have talent and determination. What many lack are affordable capital to invest in the technology and systems that let them compete. That door is now open. We commend the Government for this bold move, and we urge our businesses to walk through that door with well-prepared plans and the confidence to think big,” the GMSA noted.
Underscoring the importance of Guyanese companies being ready to compete, the Association said it is preparing to support small businesses across all sectors to make the most of this opportunity.
“As the voice of manufacturing and services in Guyana, the Association will work alongside the Bank and its partners to help SMEs prepare sound business plans, financial records and loan applications; connect entrepreneurs with mentorship, technical expertise and training; link small businesses to buyers, supply chains and new markets… To every manufacturer, farmer, artisan, technician and service provider: this is your moment. Do not wait for opportunity to find you. Put your records in order, define clearly how financing will grow your business, and reach out to the GMSA for support,” the missive detailed.
But even with this new financing opportunity available, the GMSA is urging local businesses to explore opportunities not only within Guyana’s growing economy but in markets across the region. Small companies are also advised to borrow wisely, invest in productivity, and repay faithfully, so that the Bank’s resources keep growing and reach the next entrepreneur in line.

Opportunity to expand
Meanwhile, the Private Sector Commission (PSC) said the operationalisation of the GDB is a significant milestone in the continued strengthening of the local financial and economic landscape.
“The establishment of the Bank represents an important opportunity to expand access to financing for entrepreneurs, small and medium-sized businesses, and enterprises seeking to grow, innovate and scale their operations. Expanding access to affordable and accessible financing is an area the Commission has consistently advocated for, recognising its importance to business growth, investment and competitiveness,” the private sector umbrella body stated.
By facilitating greater access to capital, supporting business expansion and encouraging investment and job creation, the Commission said the GDB can play a pivotal role in strengthening the private sector and driving broad-based economic growth.
“The Private Sector Commission looks forward to the Bank helping to unlock new opportunities for local businesses, support entrepreneurship and contribute to a stronger, more competitive and dynamic business environment,” the PSC stated.

Business-support pillar
Moreover, the Georgetown Chamber of Commerce and Industry (GCCI) on Monday also welcomed the advancement of the Development Bank, which it says adds a new financing avenue for Guyanese entrepreneurs and SMEs at a time when access to affordable finance remains an important consideration for businesses seeking to start, expand and strengthen their operations.
“GCCI has consistently advocated for an enabling environment in which local businesses can access the financing, technical support and opportunities necessary to become more competitive and sustainable. The Chamber therefore views the development of the Bank as a pillar to Guyana’s evolving financial and business-support ecosystem,” the GCCI stated.
According to the Chamber, with new opportunities emerging across traditional and developing sectors in the country, greater access to capital is critical to ensuring that local businesses are positioned to participate meaningfully in this growth.
“The GCCI looks forward to the Bank developing financing mechanisms that are accessible, responsive to the realities of the local business community and supportive of sustainable enterprise development,” the private sector body stated.

Powerful catalyst
Similarly, the Guyana Oil & Gas Energy Chamber (GOGEC) said the establishment of the GDB represents a landmark milestone in modernising the nation’s financial architecture. GOGEC went onto strongly praise the Government for delivering on its vision of an inclusive economic landscape that directly dismantles long-standing financial barriers for local entrepreneurs, youth, women and emerging enterprises.
Headed by seasoned professionals with deep expertise spanning retail and SME banking, private sector advocacy, financial regulation, legal affairs, aviation, and institutional governance, GOGEC says the Bank is well-positioned to address the systemic hurdles that historically impeded growth especially for micro, small, and medium-sized enterprises (MSMEs).
“As Guyana’s energy sector continues its rapid expansion, meeting stringent local content targets requires robust capitalisation and capacity-building. The Guyana Development Bank serves as a powerful catalyst for GOGEC members; particularly emerging subcontractors, fabrication shops, logistics providers, and professional service suppliers,” the Energy Chamber stated.
GOGEC went onto add that it stands ready to collaborate with the Development Bank and the Government to ensure that local energy enterprises and small suppliers fully harness these financial tools, fostering shared prosperity and driving sustainable Guyanese participation in the national transformation.

In the grand scheme of things, your Eyewitness believes “when you gotta go, you gotta go” – and so he views with equanimity that it was time for Robert Horatio Orlando (RHO) Corbin to go. And in accordance with the maxim that we were inculcated with as good colonials – de mortuis nil, nisi bonnum (of the dead say only the good) may he rest in peace (RIP).
RHO – as your Eyewitness is used to calling him – lived a long and checkered life almost totally dominated and eventually consumed with Guyanese politics!! He was born in the bauxite mining town – before it was a town – and was sixteen when the infamous Wismar massacre and the equally infamous Son Chapman explosion were orchestrated in 1964. These events had to’ve had a massive impact on him since– as a social worker, believe it or not! – he soon joined the PNC’s Young Socialist Movement (YSM) in which he moved inexorably to become its leader.
Cutting his eyeteeth in the heady days of the rigging of the 1968, 1973 and 1980 elections, he emerged as one of the Kabaka’s most trusted lieutenants to became an indispensable cog in this PNC wheel that Burnham had introduced to keep his party in power and the PPP looking in from the outside!! He was rewarded with a succession of influential party and ministerial posts which pointed to the likelihood that he might one day lead the PNC – and perhaps even snag the presidency!! As such, when the Kabaka passed in 1985 and Desmond Hoyte became his surprising heir, he tied his wagon firmly to the Silver Fox’s tail in the 1985 elections – and gave the latter a bigger majority that even Burnham had ever given himself!!
As Hoyte moved to remove the Burnhamite wing of the PNC and introduce a set of new faces – like Trotman – to form the PNC-Reform, Corbin was rewarded with a Deputy PM post to hold-off the restive Hamilton Green!! He was snagged in the infamous Power Barge scandal that makes the opposition’s present critique of the PPP’s power-ships seem like a tempest in a teapot!! Desmond Hoyte’s passing catapulted him into the leadership of the PNC in early 2003 – but he soon received stiff internal opposition from two quarters – one from old guards like Vincent Alexander challenging him from within – and Trotman quitting and challenging him from the newly-formed AFC.
He moderated and pushed the PPP to consider shared governance – but when this foundered – his first election as PNC leader in 2006 was disasterour as the AFC pulled six seats from the PNC’s base.
He could never recover and in 2011 stepped aside for David Granger to lead the APNU coalition he’d brokered.
He did it his way!!

…Oct 5th
It’s rather ironic that RHO passed on the eve of Oct 5th – the day that his PNC was ousted because the US that had backstopped the PNC’s riggings now thought that Jagan was a toothless lion in winter and could be brought in from the cold!! Pres Carter’s intervention had neutralized RHO’s greatest utility to the PNC in one fell swoop – to cook the ballots – and even Hamilton Green’s last hurrah at GECOM’s HQ was fruitless!!
Yes…it was a great day for democracy – but we don’t see the PNC celebrating, do we?? They’d tried a thing (from the past) in 2020 but all it did was to earn RHO’s chosen successor Granger – who’d proved the former’s instincts correct that a kinder gentler PNC could capture the presidency!! – the title of Sanctimonious Gangster!!
Granger decided to walk and we now have a PNC decimated even worse than in 2006 from an unexpected quarter – Sanction Man!!
Democracy’s great innit?? It spontaneously generates the changes that make it work!!

…our southern neighbour
Because of Venezuela’s decades long belligerency in claiming two thirds of our Western national territory, we sometimes forget to look South!! There, Lula’s seemingly invincibility has been punctured by right-wing Bolsanaro in their presidential sweepstakes!! Implications??

The operationalisation of the Guyana Development Bank (GDB) is an important development in the country’s evolving financial architecture and creates a practical avenue for expanding access to capital among citizens and small and medium-sized enterprises (SMEs).
With an initial capitalisation of US$100 million, the state-backed institution is designed to address a longstanding challenge confronting aspiring entrepreneurs, access to affordable financing without the conventional barriers associated with commercial lending. The decision to offer loans of up to $3 million without collateral and interest provides an opportunity for persons with viable business ideas, but limited financial resources, to enter or expand the productive economy.
The significance of the initiative extends way the provision of loans as the GDB has been structured as a support ecosystem intended to help businesses move from an idea to sustainable operation and, ultimately, into the formal financial system.
Quick Loans below $300,000 will be subject to simplified procedures and reduced documentation, while SME loans between $300,000 and $3 million will require additional supporting information. Such differentiation is sensible because the financing needs and risk profiles of a small start-up and an established enterprise seeking expansion are not necessarily the same.
More equally important is the bank’s digital-first approach as rather than requiring citizens from the hinterland, riverain communities or distant regions to travel to Georgetown to pursue financing, applications can be submitted through the GDB’s online platform. Loan management and repayment can also be conducted digitally, while applicants requiring additional assistance can request face-to-face appointments.
The establishment of help desks at commercial bank branches further strengthens the accessibility of the initiative. The absence of a conventional physical banking network should not become a barrier to participation, provided that adequate support is available to citizens who may have limited digital literacy or require assistance preparing their applications.
The emphasis on accessibility is particularly important because the success of the GDB should not be measured simply by the number of loans approved. Success must be measured by the number of viable enterprises created, businesses expanded, jobs generated, household incomes strengthened and entrepreneurs successfully transitioned into larger-scale commercial financing.
That pathway has already been built into the model as under the proposed co-financing arrangement, successful borrowers can potentially access an additional $7 million from traditional lending institutions at favourable interest rates. This creates an important progression, the Development Bank provides the initial opportunity, while responsible borrowers build a track record that can position them for larger financing.
Such an approach also makes clear that the GDB is not a grant programme. The loans must be repaid. That distinction matters because sustainable entrepreneurship cannot be built around a culture of dependency. Responsible borrowing, sound business management and repayment discipline are essential to ensuring that the institution’s capital can be recycled into new opportunities for other Guyanese.
The support services being offered alongside financing are just as important as the loans themselves. Technical assistance, mentorship, business development services and capacity building can help address weaknesses that often undermine small enterprises, including inadequate financial planning, weak record-keeping, limited marketing capacity and insufficient knowledge of business operations.
The bank’s mandate to consider agriculture, agro-processing, tourism, technology and other emerging areas is also timely. Guyana’s economic transformation should not be confined to a narrow group of established sectors. New enterprises and innovative business models must have space to develop, particularly where conventional financial institutions may be reluctant to assume higher risks.
The composition of the seven-member Board of Directors provides an additional foundation for the institution. The inclusion of expertise spanning finance, governance, business, SMEs, workforce development, law and youth affairs can contribute to the balanced oversight required for an institution entrusted with public resources.
At the same time, strong governance and transparency will be essential. Public capital carries a corresponding public responsibility. Clear eligibility criteria, efficient processing, rigorous assessment of proposals and regular accountability will be necessary to maintain confidence in the institution and ensure that financing reaches viable enterprises rather than becoming subject to political or other forms of influence.
The GDB will become an engine for entrepreneurship and economic participation, particularly for citizens who have historically struggled to meet the requirements of conventional financing.
The opportunity now exists to unleash a wave of entrepreneurship across Guyana. The responsibility rests with the institution to administer that opportunity efficiently and with beneficiaries to transform financing into productive, sustainable enterprises.

Dear Editor,
As we launch our important Guyana Development Bank, aiming to make every one of us Guyanese, entrepreneurs in spirit in practice, in awareness and in truth. Our LEAP programme in Linden made some headway in its intended purpose, to convert our fellow citizens in Linden from the old-time company-town mindset to a new entrepreneurial, self-responsible, paying-your-way, profitable mindset.
I wish that we had been more successful, even as I recognize that culture is difficult to change. We are not aware that in the existing culture there are a thousand questions for which we know the answers. In our transition to a new culture, we must believe that we will arrive at new answers that are acceptable and better, to those same thousand questions.
As we set out on this key venture of a national Development Bank, aware of our history in such ventures, we must avoid thinking of it and approaching it as a government hand-out in another form. It would be good for us to have wide and deep discussions about profits and losses, subsidies and support/investment for the medium to long term, how wealth is created, and so on.
Profitability and profits are essential but our history and religions have disposed most of us to be cautious if not outrightly suspicious of and denouncing profits. But we need perhaps two thirds of all our activities to be highly profitable beyond paying their way, so that there is money to be invested in projects that will provide an improved setting for continued and greater profits in the medium and long term. Losses offset by subsidies and support could only be temporary, to get through troughs or to transition out of goods and services that we could no longer offer competitively, or where we could not offer them competitively and profitably, soon.
We rightly honour our Cheddi for being a great fighter for workers and the downtrodden against mighty capitalists. I dare say that he was at the same time a fighter for profitable enterprises that were fair and just, for sustaining the enterprises in which our people worked, and having profits and savings to invest and thus improve productivity and incomes.
To many it might seem that I am rewriting Cheddi, but I point to his characteristic path towards ending a strike: calling for a going to the books, proposing deferral of or reduction of debt repayments and/or less pay to the top (including reduced profit take) so that workers at the bottom could get something that was more just without collapsing the enterprise. Cheddi was aware of and acted out his awareness that a collapsed enterprise would be bad for workers. Cheddi looked to bringing better rewards for workers in the not-too-distant future by deferring some present consumptions and investing the savings in society wide developments.
Let me admit that as one who was an 18yr old youth at the time, I was attracted to Cheddi’s 1962 Development budget, regretting the view with which so many of our people were excited to riot, that Cheddi wanted us to do without, to save and invest in projects which our children and grandchildren should do!
May we have greater success as we launch on this perhaps fourth attempt in my knowledge, to kindle the entrepreneurial spirit in every one of us Guyanese, to profitably provide lawful and morally acceptable goods and services to our fellow Guyanese (and in time to our world) in a form that at the current time they are able and willing to pay for. Our new Guyana Development Bank is for earnest, serious business, not another vehicle for handouts but a vehicle for many of us to create wealth in our country.
Let all of us be entrepreneurs or entrepreneurial in whatever work we do in ways that earn profits and at the same time make “profits “a good word. Make
profits that are fair and just in the prevailing circumstances, so as to enable us to do good things and extend subsidies and support losses in others enduring hard times and times of transition and transformation. Only fair and just profits can do good – losses cannot.
Let all of us be entrepreneurial. Let us all be profitable. Let there be profits all around. Let us make “profits” a good word, for profits are essential. Let us make our new Guyana Development Bank the enabler for many of us.
Sincerely,
Samuel A A Hinds
Former Prime Minister and President

Dear Editor,
The Guyana Manufacturing and Services Association (GMSA) warmly congratulates His Excellency President Dr. Mohamed Irfaan Ali and the Government of Guyana on the launch of the Guyana Development Bank. Established under the Guyana Development Bank Act 2026 and backed by US$100 million in initial capital, the Bank represents a landmark investment in the people who power our economy: Guyana’s small and medium-sized enterprises (SMEs).
For too long, access to affordable finance has stood between a good idea and a growing business. By offering loans of up to GY$3 million at zero interest and without collateral, paired with mentorship and technical support, the Bank removes that barrier for entrepreneurs across the country, from our hinterland and riverine communities to our towns and city.
The Guyana Development Bank arrives at exactly the right moment. Many of our SMEs are no longer content to grow one small step at a time. They are aiming to leapfrog: to bypass traditional, incremental growth stages and move directly to advanced technologies, modern equipment and new business models.
Guyana’s economy is rapidly expanding, Guyanese companies must be ready to compete for that business today, not years from now. Affordable capital is what will turn the ambitions into reality for small businesses to accelerate their growth and have the capacity to win larger contracts.
This is a historic time for Guyanese entrepreneurs. The Guyana Development Bank tells every small business owner that their ambition matters to this nation’s future. Our SMEs have talent and determination. What many lack are affordable capital to invest in the technology and systems that let them compete. That door is now open. We commend the Government for this bold move, and we urge our businesses to walk through that door with well-prepared plans and the confidence to think big.
The GMSA is preparing to support small businesses across all sectors to make the most of this opportunity. As the voice of manufacturing and services in Guyana, the Association will work alongside the Bank and its partners to help SMEs prepare sound business plans, financial records and loan applications; connect entrepreneurs with mentorship, technical expertise and training; link small businesses to buyers, supply chains and new markets through GMSA’s industry networks and B2B platform; encourage investment in modern equipment, technology and quality standards that allow firms to leapfrog; and carry the private sector’s feedback to the Bank so its programmes continue to meet the needs of businesses on the ground.
To every manufacturer, farmer, artisan, technician and service provider: this is your moment. Do not wait for opportunity to find you. Put your records in order, define clearly how financing will grow your business, and reach out to the GMSA for support.
Think beyond survival to scale, and beyond today’s customers to the opportunities in Guyana’s growing economy and in markets across the region. Borrow wisely, invest in productivity, and repay faithfully, so that the Bank’s resources keep growing and reach the next entrepreneur in line.
Guyana’s transformation will be measured not only by what we produce from the ground, but by the strength of the businesses Guyanese build and own. The Guyana Development Bank gives our SMEs a powerful tool to build them, and the GMSA stands ready to help turn that vision into reality.
Yours sincerely,
Rafeek Khan
President
Guyana Manufacturing & Services Association

Guyana Police Force (GPF) Officers’ team all-rounder Trevor Benn has been selected to represent the West Indies at the 2026 International Masters Cricket (IMC) Over-40s Cricket World Cup, which will be hosted in Guyana from October 17 to November 1.
Benn is part of a 16-member West Indies squad that will be captained by former West Indies wicketkeeper-batsman Denesh Ramdin. The squad also features several former international players, including Ramnaresh Sarwan, Sewnarine Chattergoon, Jason Mohammed, Rayad Emrit, and Devendra Bishoo.

The selection is another notable achievement for Benn, who continues to play an important role as an all-rounder for the GPF Officers’ team.
The tournament will feature 16 international teams contesting 72 matches in the 45-over format at venues across several regions of Guyana.

West Indies have been drawn in Zone A alongside Australia, Canada, defending champions South Africa, Colombia, Wales, Namibia, and Sri Lanka.
The regional side will begin its campaign against Australia on Saturday, October 17, at the Guyana National Stadium, Providence, with the match scheduled to bowl off at 09:30h.
The tournament will culminate with the Grand Final at the Guyana National Stadium on October 31, followed by the closing ceremony at the Police Officers’ Mess Annexe, Eve Leary.

For Benn, the tournament presents an opportunity to compete on the international masters stage alongside several former West Indies stars and experienced cricketers from across the Caribbean.
The GPF has congratulated Benn on his selection and wished him and the West Indies Over-40s team success at the upcoming World Cup.