Minister of Finance Ashni Singh yesterday turned the sod for the construction of a new multi-million dollar Republic Bank branch located at Public Road, Plantation Great Diamond, East Bank Demerara.

Minister of Finance Dr. Ashni Singh (centre) performs the symbolic turning of the soil. Managing Director of Republic Bank (Guyana) Limited Edwin Gooding is at right. Also in photo is Central Bank Governor Lawrence Williams. (Photo by Femi Harris)

The contract for the construction of the $400M facility was awarded to BK International and is expected to be completed in another seven to eight months.

At the simple sod-turning ceremony held at the construction site, the Minister of Finance in brief remarks said that the project is yet another milestone for Republic Bank, noting that only a few weeks ago he was fortunate to have attended the launch of the Bank’s ‘Visa One Card’ service which is now available to customers.

Singh noted that such investments are “great boosters” for Guyana’s economy, adding that the new Republic Bank branch that was recently commissioned at Anna Regina are all innovative manifestations  that attest to the growth of the finance sector and the delivery of quality banking services to the populace.

Land development works underway

Minister Singh told the media that the bank is in a strategic location, nothing that Diamond is rapidly taking on the semblance of a town which has already been fortified with a hospital, school and a housing scheme among other infrastructural developments.

Denys Benjamin, Republic Bank’s Manager of Corporate Operations and the man in charge of the entire project, said that the project consists of two phases; the first being that of the development of the one-and-a-half acre land site which will last for three months. Excavation work is presently underway as well as the construction of an access bridge and customer parking facilities. The second phase will see the actual construction of the bank.

According to Benjamin, the Bank will be fortified with all the modern banking features and services such as ATM machines, safe deposit boxes, retail loans and deposit facilities.