IDB-Invest urged to work closely with Guyanese private sector

July 10, 2023

The need for the Inter-American Development Bank (IDB) to engage more with Guyana private sector was highlighted hy Minister of Finance, Dr. Ashni Singh at the the launch of the IDB Invest, Caribbean- Suriname and Guyana Edition Workshop today.

With Guyana being the first Caribbean nation to benefit from the workshop, Minister Singh noted the significance for private sector involvement.

However, there is much more to be done, the minister highlighted, noting that there are endless opportunities in Guyana’s economic landscape, whether it be large, medium, or small investments.

“I would urge IDB Invest to work closely with as many Guyanese companies as you can, to bring them up to the point where they’re able to access financing from the IDB, not only in the interest of concluding a transaction but also in the interest of them being able to participate in the modern world, the modern way of doing business,” Dr. Singh expressed. 

Similarly, Minister Singh urged the local private sector to take advantage of opportunities that are in store and to consider IDB Invest as a viable option for raising finances for investments.

“It might seem, initially, that the barriers to entry are a little bit high, but the reality is that in today’s world, even if you don’t meet those standards in relation to raising your financing with the IDB, if you want to do business with major companies around the world, including the oil and gas sector, chances are you are going to have to comply with most of those standards anyhow,” he explained.

The workshop, held at the Marriott Hotel, Kingston, Georgetown

Minister Singh addressing the workshop