Loggers and small miners in Region Six are showing interest in accessing loans through the soon-to-be-launched Guyana Development Bank, Natural Resources Minister Vickram Bharrat has said.

The new facility will offer loans of up to $3 million without interest or collateral, providing another financing option for small operators who struggle to meet the requirements of commercial banks.

Bharrat discussed the initiative during a recent open day in Region Six, where he met stakeholders from the mining and forestry sectors.

He said the government has been encouraging operators, particularly loggers, to use the financing to expand beyond the sale of raw materials and invest in value-added production.

“We’ve been advocating and we’ve been speaking a lot with the loggers and miners, especially loggers, for them to use the opportunity of the Guyana Development Bank to move to value-added,” Bharrat said.

“That is where the real opportunities lie, and that is what will make their businesses even more profitable.”

The minister said interest in the facility has been significant, with operators now awaiting its rollout.

The National Assembly passed the Guyana Development Bank Bill on July 27, 2026, clearing the way for the establishment of the financial institution. Bharrat said the legislation has since received presidential assent.

Under the programme, eligible small and medium-sized businesses will be able to borrow up to $3 million at zero interest and without providing collateral.

“This simply means that if you borrow a million, you pay back a million,” Bharrat explained.

He said the arrangement could be particularly important for forestry operators who do not own titled property that can be used to secure a commercial loan.

“Most of them don’t hold a title or transport to their land, and the forestry permit or the concession that they are using is not accepted by the commercial bank as a form of collateral,” he said.

According to Bharrat, forestry operators have long called for a financing system that recognises the circumstances under which they operate.

The Ministry of Government Efficiency and Implementation and the Ministry of Finance are expected to conduct outreaches across the country to explain the programme and guide prospective borrowers through the application process.

Applicants are being encouraged to begin preparing business plans. The government has also said successful borrowers will have access to mentorship and technical support.

Bharrat said he intends to follow up on the rollout to ensure loggers and small miners can access the facility.