The Inter-American Development Bank’s private sector arm, IDB Invest, has deepened its engagement in Guyana following a two-day visit by its Chief Executive Officer, James Scriven, culminating in high-level discussions with Senior Minister responsible for Finance Dr. Ashni Singh and a roundtable with local private sector representatives to identify new investment opportunities.
Dr. Singh highlighted the dramatic shift in Guyana’s relationship with IDB Invest, noting that the institution had conducted only four transactions totalling US$6 million in its first three decades of engagement with the country. Since 2020, however, IDB Invest has approved approximately US$264 million in financing across agriculture, infrastructure, telecommunications, finance and manufacturing — a transformation he attributed to growing investor confidence in Guyana’s economy.
During the visit, Scriven and his team toured several IDB Invest-funded projects. At Demerara Distillers Limited, the institution provided US$22 million in 2020 to expand milk and juice production, followed by an additional US$7 million in 2023 for agro-processing diversification. At Muneshwers Limited, US$4 million was invested in 2022 for a mobile harbour crane to enhance port capacity, with a further US$10 million in 2023 for expanded port and warehouse facilities.
Other significant investments include US$45 million for Unicomer Guyana’s commercial complex to support small businesses, US$30 million for One Communications to improve connectivity infrastructure, US$5 million to the Institute of Private Enterprise Development (IPED) to expand financing for micro and small enterprises, and US$55 million deployed under a trade finance programme to support liquidity in local commercial banks.
The visit coincided with the official opening of the Four Points by Sheraton Hotel in Georgetown, a project supported by US$18 million in IDB Invest financing. President Dr. Irfaan Ali, delivering the feature address at the opening, said the investment signals growing confidence in Guyana’s economic trajectory.
“Guyana’s future is bright not by accident but by action, not by choice but by results,” the President said, describing the hotel as reflective of Guyana’s broader transformation and readiness for growth in tourism, infrastructure and services.
Scriven highlighted the hotel’s environmentally conscious design, noting it is expected to be the first EDGE Advanced-certified hotel in Guyana and potentially the wider Caribbean, featuring energy-efficient systems and a large solar footprint aligned with the country’s Low Carbon Development Strategy.
The IDB Invest CEO also held discussions with President Ali during the visit as both sides continue exploring an expanded role for the institution in supporting Guyana’s private sector growth. Dr. Singh reaffirmed the government’s commitment to working with international partners to unlock investment opportunities and ensure that economic expansion benefits Guyanese businesses and citizens.
