IDB Invest pumps US$264M into Guyana

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, as government pushes to expand private investment across key sectors.

The visit culminated in high-level discussions with Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh, and a roundtable with local private sector representatives aimed at identifying new investment opportunities.

Dr. Singh said Guyana’s relationship with IDB Invest has shifted significantly in recent years, moving from minimal engagement to substantial financing for private sector development.

“For many years, IDB Invest did little or no business in Guyana, with only four transactions totaling US$6 million in the first three decades,” Singh said.

He noted, however, that since 2020, the institution has approved approximately US$264 million in financing across a wide range of sectors, reflecting growing investor confidence in Guyana’s economy.

The financing spans agriculture, infrastructure, telecommunications, finance and manufacturing, supporting projects aimed at boosting productivity and economic diversification.

During the visit, Scriven and his team toured several projects funded by IDB Invest.

At Demerara Distillers Limited (DDL), the institution provided US$22 million in 2020 to expand milk and juice production, followed by an additional US$7 million in 2023 to support agro-processing diversification.

The team also visited Muneshwers Limited, where US$4 million was invested in 2022 for a mobile harbour crane to enhance port capacity, along with a further US$10 million in 2023 for expanded port and warehouse facilities.

Other key 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, and US$5 million to the Institute of Private Enterprise Development (IPED) to expand financing for micro and small enterprises.

Additionally, US$55 million has been deployed under a trade finance programme to support liquidity in local commercial banks.

The visit coincided with the opening of the 172-room Four Points Sheraton Hotel in Georgetown, a project supported by US$18 million in IDB Invest financing.

President Irfaan Ali, delivering the feature address, 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, adding that investors are placing confidence in one of the fastest-growing economies globally.

He described the hotel as “more than an impressive structure,” noting that it reflects Guyana’s transformation and readiness for growth in tourism, infrastructure and services.

Scriven said the hotel represents a milestone in sustainable investment, highlighting its environmentally conscious design.

The facility 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 CEO also met with President Ali during the visit, as discussions continue on expanding IDB Invest’s role in supporting private sector growth.

Dr. Singh said the government remains committed to working with international partners to unlock investment opportunities and ensure that economic expansion benefits Guyanese businesses and citizens.

The visit signals continued momentum in Guyana’s development agenda, with private sector financing playing an increasingly central role in driving growth.