Change Guyana commits to opening Private Development Bank to boost Agri. sector

Though recently formed, the Change Guyana Party which is led by Presidential Candidate, Robert Badal, says it has a strong development programme that is sure to stimulate the agricultural sector, should it win the 2020 General and Regional Elections.

The Guyana Standard understands that part of the Party’s plan involves prioritizing in its first year in office, the opening of a Private Agricultural Development Bank that will offer low interest loans to ensure small, medium and large scale farmers have the funding to profitably utilize hundreds of thousands of acres of arable land across Guyana for value added agro-processing.

The Party said that interest rates will range between four and eight percent with loan collateral including traditional land and property assets. It is envisaged by the Party that the Private Agricultural Development Bank will incentivize farming entrepreneurs and potential agri-businessmen to cultivate plants and livestock and invest in added value products for local and international markets.

It proposed that the opening of the bank will be done in conjunction with the release of vast tracts of State and government lands across the 10 regions of Guyana for agricultural purposes.

Source