The investment arm of the Inter-American Development Bank, IDB Invest, is accelerating capital investments in the local private sector, highlighting attractive, scalable ventures in the country’s diversifying economy.
IDB Invest Chief Executive Officer James Scriven, appearing alongside Senior Finance Minister Dr Ashni Singh on state television, said annual investments are expected to surpass the capital provided over the last five years.
He said that while US$260 million has been invested in the country since 2020, “I promised the Minister, and told the President, that we should be doing that (amount) on an annual basis.”
Agribusiness, tourism, construction, telecommunications and banking are among the sectors of interest, the CEO said.
He noted the Bank’s commitment to supporting Guyana in diversifying its economy and said it will therefore strengthen its Georgetown office with additional staff to assist in the rollout of a wide range of financing products now available to Guyana.
Scriven said Guyana could expect a larger volume of private sector financing transactions, a broader range of industries receiving investment, and a wider array of financing products being offered.
With a mere US$6 million invested in the first 30 years of Guyana’s IDB membership, Scriven praised the Government’s enabling business environment for inspiring IDB Invest’s increased confidence in the private sector and its investment opportunities.
