President Dr Irfaan Ali on Thursday assented to the Guyana Development Bank Act 2026, paving the way for the…

President Dr Irfaan Ali on Thursday assented to the Guyana Development Bank Act 2026, paving the way for the establishment and operation of the Guyana Development Bank. The legislation was passed by the National Assembly last Monday. It outlines the legal, institutional, and administrative framework under which the bank will operate. Once operational, the bank will provide interest-free and collateral-free loans of up to $3 million to small and medium-sized enterprises across a range of sectors. It will also offer technical and advisory support to entrepreneurs, including assistance with business planning, financial management, and business development. (Source: President Irfaan Ali/ July 30, 2026)