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March 27, 2026
The Institute of Private Enterprise Development (IPED) celebrated its 40th anniversary on Friday, having disbursed nearly 150,000 microloans valued at over $64 billion across 700 villages.
Senior Minister with Responsibility for Finance, Dr. Ashni Singh, speaking on behalf of President Irfaan Ali, said the government “will continue to maintain this environment where the economy is growing” and urged entrepreneurs to “respond to this environment and seize the opportunities that are being created.”
Highlighting IPED’s growth, Dr. Singh said the agency had expanded from 25 loans in its first year to more than 10,000 within a decade, with approvals doubling from $2.9 billion in 2020 to $5.7 billion in 2025.
Chairman Komal Samaroo reflected on the agency’s early days, describing life in a state-controlled economy where “every import has to be licensed” and grocery queues were common.
The Institute of Private Enterprise Development (IPED) celebrated its 40th anniversary on Friday, having disbursed nearly 150,000 microloans valued at over $64 billion across 700 villages.
Senior Minister with Responsibility for Finance, Dr. Ashni Singh, speaking on behalf of President Irfaan Ali, said the government “will continue to maintain this environment where the economy is growing” and urged entrepreneurs to “respond to this environment and seize the opportunities that are being created.”
Highlighting IPED’s growth, Dr. Singh said the agency had expanded from 25 loans in its first year to more than 10,000 within a decade, with approvals doubling from $2.9 billion in 2020 to $5.7 billion in 2025.
Chairman Komal Samaroo reflected on the agency’s early days, describing life in a state-controlled economy where “every import has to be licensed” and grocery queues were common.
Earlier this year, IPED secured a US$5 million loan from the Inter-American Development Bank (IDB) to expand support for women, youth, and rural entrepreneurs.
Earlier this year, IPED secured a US$5 million loan from the Inter-American Development Bank (IDB) to expand support for women, youth, and rural entrepreneurs.
