Micro and small enterprises in Guyana are set to benefit from fresh financing as the Institute of Private Enterprise Development (IPED) secured a US$5 million loan agreement with IDB‑Invest and the Japan International Cooperation Agency (JICA). The deal, signed at the Ministry of Finance on Thursday and overseen by Senior Minister Dr. Ashni Singh, will expand IPED’s reach to women, youth, and rural entrepreneurs across more than 700 villages.

Minister Singh hailed IPED as “a very important and special institution,” noting its 40‑year track record of disbursing more than 147,000 loans worth G$64 billion. “They currently have about 5,000 clients on their books…about 40 percent are women and five percent are under twenty‑five,” he said, adding that IPED’s work is “a remarkable achievement.”

IDB Country Representative Lorena Solórzano‑Salazar emphasized that “the role of the financial sector is critical to support local entrepreneurs, including micro and small enterprises in line with government’s strategy to diversify the economy.”

IPED Chairman Komal Samaroo underscored the timing: “It is significant that the signing of the agreement coincides with IPED’s fortieth anniversary…over the forty years, the organization has made significant contribution to the development in the micro and small business sectors in Guyana.”

The US$5 million package combines US$2.5 million from IDB‑Invest and US$2.5 million from JICA’s TADAC Fund, reinforcing Guyana’s broader vision to empower entrepreneurs and dismantle barriers to financing.