Guyana’s President Dr. Irfaan Ali is encouraging the country’s Indigenous Peoples who reside in the northernmost region, Region One (Barima- Waini), to tap into the government’s new Development Bank and use the interest-free and collateral-free financing offered to expand food production.
Poultry production alongside coffee, cocoa, citrus and ginger are some of the produce the Guyanese leader believes Region One is best suited for. He believes that much-needed capital from the new Guyana Development Bank can fund agri-businesses.
The new Development Bank is intended to make it easier for small businesses to obtain financing while also giving them the advice and support needed to grow. Under the law, the Bank will not lend more than G$3 million to anyone or business.
The intention behind this call is two-fold: first, the President said his government wants to develop a new cadre of entrepreneurs; secondly, he believes community-led food production can help lower food costs.
The President said he envisions young entrepreneurs operating the service under a business model that combines commercial viability with social responsibility.
“It must be beneficial to the community while still beneficial to the business owner,” he said.
President Ali also explained that producing food within the region slashes transportation costs required to import food. However, he acknowledged that regional airstrips and the road network through the hinterland must be developed too.
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