Saturday, June 14, 2025
Village Voice News
ADVERTISEMENT
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us
No Result
View All Result
Village Voice News
No Result
View All Result
Home News

IDB Invest opens up US$20M line of credit to Guyana

Staff Reporter by Staff Reporter
December 4, 2020
in News
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

IDB Invest–a member of the IDB Group – has incorporated Republic Bank Guyana into its Trade Finance Facilitation Programme (TFFP) paving the way for the country to have US$20M line of credit.

In a statement, the Inter-American Development Bank (IDB) explained IDB Invest incorporated three subsidiaries of Republic Financial Holdings Limited (RFHL) in Barbados, Guyana and Suriname into its TFFP by opening lines of credit to be used for short-term international trade finance transactions with the intention to offer support to local small and medium sized enterprises (SMEs).

READ ALSO

APNU Sounds Alarm Over Election Integrity And GECOM’s Last-Minute Rule Change

Endorsements Ignite Political Theatre Ahead of Guyana’s Elections

“These three lines consist of an uncommitted US$20 million TFFP line each to both Barbados and Guyana, as well as a US$15 million line to Suriname. They will support the Bank’s ability to finance its customers’ import and export activities in Barbados, Guyana, and Suriname,” the bank explained.

It added: “Given the current context of high volatility in international markets and macroeconomic pressures from the COVID-19 health crisis, these lines will help, not only to alleviate the Bank’s funding tensions in the short term, but also to diversify its sources, and reducing dependence on deposits.”

According to the IDB, it will also help the bank to increase its supply of foreign trade products to its SME clients, adjusting its supply to the current context of these demands.

“At IDB Invest, we are pleased to close three transactions with Republic Financial Holdings Limited through our Trade Finance Facilitation Program in Barbados, Guyana and Suriname. With this program, Republic Financial Holdings Limited can diversify its network of partners offering trade finance products for imports and exports, including loans and guarantees, to its clients in these countries. This is part of our strong commitment to reinforce financing and boost trade within the Caribbean region,” James Scriven, CEO of IDB Invest said.

Nigel Baptiste, President and CEO of RFHL said as one of the leading financial institutions across the Caribbean region with an international footprint in Ghana, RFHL has an obligation to provide financial and developmental support. “Our support remains grounded in the framework of sustainable development, and the belief that the changes we make today can and will positively impact the generations of tomorrow,” Baptiste said.

He added that regional SMEs can be the champions of their alliance with IDB Invest. “We believe that this alliance will break down the barriers that exist for SMEs and facilitate new relationships with international markets while maintaining established ones. We have an opportunity to create a robust hub for trade and investment into the region while increasing employment,” he said.

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector.

ShareTweetSendShareSend

Related Posts

APNU+AFC Member of Parliament Ganesh Mahipaul
News

APNU Sounds Alarm Over Election Integrity And GECOM’s Last-Minute Rule Change

by Admin
June 14, 2025

The A Partnership for National Unity (APNU) has issued a stern announcement denouncing what it describes as a troubling pattern...

Read moreDetails
INews photo
News

Endorsements Ignite Political Theatre Ahead of Guyana’s Elections

by Admin
June 14, 2025

The 2025 General and Regional Elections may be months away, but the political stage is already ablaze with headline-making endorsements...

Read moreDetails
Shadow Minister of Foreign Affairs Amanza Walton-Desir
News

“I’m Not Interested in Joining the PPP; Never Will” -Walton-Desir

by Admin
June 13, 2025

Shadow Foreign Minister Amanza Walton-Desir has publicly called on President Irfaan Ali to stop associating her with claims of electoral...

Read moreDetails
Next Post
In the photograph are Attorneys-at-Law, Nigel Hughes, Sophia Findlay and Ronald Daniels; Magistrate Rhondel Weever; former Chief of Staff of the Guyana Defence Force (GDF), Rear Admiral (ret’d) Gary Best and the late Jude Bentley

Weak prosecution, lack of evidence hurt police case against Best


EDITOR'S PICK

Dr. Henry Jeffrey

‘Suriname/Guyana: good and bad governance’

October 6, 2024
Leader of the Opposition and PNCR Mr. Aubrey Norton

Norton demands Government release all documents on gas-to-energy project

February 10, 2023
PPP General Secretary, Vice President Bharrat Jagdeo

VIDEO: Jagdeo’s flip-flopping on GECOM reforms exposes double standards

February 10, 2025

Guyana’s Oil Boom Will Only Accelerate In 2023

January 1, 2023

© 2024 Village Voice

No Result
View All Result
  • Home
  • News
  • Sports
  • Editorial
  • Letters
  • Global
  • Columns
    • Eye On Guyana
    • Hindsight
    • Lincoln Lewis Speaks
    • Future Notes
    • Blackout
    • From The Desk of Roysdale Forde SC
    • Diplomatic Speak
    • Mark’s Take
    • In the village
    • Mind Your Business
    • Bad & Bold
    • The Voice of Labour
    • The Herbal Section
    • Politics 101 with Dr. David Hinds
    • Talking Dollars & Making Sense
    • Book Review 
  • Education & Technology
  • E-Paper
  • Contact Us

© 2024 Village Voice