Pradeepa Bholanath, Guyana’s Lead Climate Negotiator, said the new Development Bank could become a launchpad for innovation, helping entrepreneurs test new ideas and build industries linked to the country’s Low Carbon Development Strategy (LCDS) and rapidly expanding economy.
Speaking during a June 14 interview on the Starting Point podcast, Bholanath said the bank could provide an avenue for entrepreneurs to support the next phase of Guyana’s development.
“I see our generation as a generation of innovators…through the lens of the LCDS, I think it’s going to create tremendous room for innovation and a testbed for what will be new sectors and new activities for this phase of the LCDS. And that is very much needed. I think when we look back a few years from now to what, really, has been a game changer, I think the development bank will be that,” she stated.
Her comments come as the government moves ahead with plans to establish a bank aimed at supporting small and medium-sized enterprises and entrepreneurs through microcredit loans of up to GY$3 million (US$14,400).
The draft Guyana Development Bank Bill 2026 has already been tabled in the National Assembly, and according to details published in the Official Gazette, the government has committed GY$40 billion (US$192 million) to the institution.
Bholanath said access to financing will be critical for young entrepreneurs seeking to develop ideas tied to technology, science, and emerging economic opportunities.
“We talk about new jobs coming from new sectors. We’re now hearing a lot about artificial intelligence and how do we build out ICT [Information and Communication Technology] capabilities… A lot of that needs seed financing to really get going,” she said.
As Guyana’s oil industry expands, companies such as ExxonMobil Guyana Limited have supported initiatives focused on technology, innovation, and supplier development to increase local participation in the sector.
These efforts are aimed at helping Guyanese entrepreneurs and businesses build the capabilities needed to compete in the energy industry and develop new services linked to the country’s broader economic transformation.
Bholanath encouraged entrepreneurs to pursue these opportunities, noting that “some of the ideas might be with great success, but some of them might very well be just that.”
