The Georgetown Chamber of Commerce and Industry (GCCI) has called the newly opened Guyana Development Bank a pillar of support for local entrepreneurs and small businesses seeking affordable finance.

The Bank (GDB) began operations on Monday, giving entrepreneurs and small and medium-sized enterprises (SMEs) a new source of financing. The Chamber congratulated the Government on the milestone.

The GCCI noted that access to affordable finance remains an important consideration for businesses looking to start, expand and strengthen their operations.

It added that it has consistently advocated an environment in which local firms can obtain the financing, technical support and opportunities needed to become more competitive and sustainable.

With the economy expanding and new opportunities emerging across traditional and developing sectors, the Chamber emphasised that greater access to capital will be critical for local businesses to participate meaningfully in that growth.

It expressed hope that the Bank will develop financing mechanisms that are accessible, responsive to the realities of the local business community and supportive of sustainable enterprise development.

The GCCI also congratulated the Bank's inaugural Board of Directors, comprising Chairperson Abu Zaman; Deputy Chairperson and GCCI President Kathy Smith; James Bond; Sukrishnall Pasha; Dion Inniss; Nalini Singh; and Praem Rambharak.

The Chamber wished the Board success as it guides the institution through its formative stage.