Outstanding loans from local commercial banks to the private sector stood at $82.3 billion at the end of last year, an increase in lending of $17.8 billion from the $64.5 billion outstanding at the end of the previous year, Chairman of the Board of Directors of the Institute for Private Enterprise Development (IPED) Yesu Persaud disclosed in the institute’s 2012 annual report.
And according to Persaud, who is also chairman of the indigenous, commercial Demerara Bank, “for every hundred dollars in loans outstanding by the commercial banks, IPED has $2.7 outstanding,” a circumstance which he said is indicative of IPED’s “small but significant contribution to the development of small enterprise in Guyana.”
In the IPED 2012 report released last week following its annual general meeting Persaud disclosed that
