It was simply a favourable response to a crying need and a demonstration of the seriousness of the government when they announced that they believed in the promotion of an entrepreneurial class in furthering the full development of the economy and its people.
The cry for help from the majority of young Guyanese involved in myriad types of economic endeavour across the country is reaching a crescendo and most, if not all, the entities concerned with serving the needs of these aspiring Guyanese businesspeople will attest to this despairing situation.
The urgency is real. There is need for a properly, professionally managed, genuine industrial bank, which can assist in the full development of these ambitious, striving Guyanese, all of whom have decided to seek their future fortune in their country of birth, rather than buckle to the pull of the perceived attraction in developed countries.
These people need the encouragement to carry on. They have answered the call of the President to get involved in entrepreneurship, but have discovered that their most urgent need of accessing helpful financing cannot be fulfilled because of the stringent requirements being demanded by private banking entities.
The government cannot permit these Guyanese with special skills and the necessary enthusiasm to fall into despair and hopelessness.
There are abundant amounts of money lying idle in the coffers of all the private banks which yearly declare huge profits. This money should be put to use. Is it not possible that government bonds be issued for these idle funds and be used for the setting up of a meaningful industrial bank?
I believe that serious consideration of this suggestion is warranted.
Yours faithfully,
David DeGroot
