Oct 12, 2026
2 min read
Farmers seeking to expand their operations could access more affordable commercial loans under a proposed financing framework being negotiated with banks, as stakeholders also help shape a national agricultural action plan.
President Dr Irfaan Ali said Republic Bank has committed to setting aside resources for agricultural loans at preferential interest rates, while the Government negotiates incentives with commercial banks to make financing more accessible to farmers pursuing medium- and large-scale production.
"We are currently we have brought all of the commercial banks together, and we are currently negotiating with them to offer the same type of incentive that we offer for low income housing to the banks, for invest, for Lonestar, so that those who want to go into more medium, large scale production can get those loans at affordable rates," Ali said.
He also pointed to Demerara Bank, which currently offers poultry loans at an interest rate of five per cent.
Details of the interest rates under negotiation, the implementation timeline and the eligibility requirements were not disclosed.
Financing is one part of a wider effort to address the needs of the sector. Agriculture Minister Zulfikar Mustapha said farmers' practical knowledge and recommendations must inform the policies guiding its development.
"Those documents provide the framework, but any strategy success depends on the wisdom, experience and practical knowledge of those working the land, tending the livestock, fishing our waters and building agribusinesses across Guyana," Mustapha said.
He said the conference was designed to give farmers a direct voice in the implementation, refinement and execution of agricultural policies.
Participants were later divided into thematic groups to discuss challenges affecting the sector and propose solutions, with technical officers from the Agriculture Ministry supporting the discussions.
The recommendations are expected to feed into a national agricultural action plan, shaping policies and programmes around the experiences and needs of farmers.
