President Irfaan Ali today announced that following discussions with commercial banks the interest rate for loans to the poultry sector will be cut from 8% to 5%.
In a live broadcast he said these discussions were concluded with Republic Bank (Guyana) Limited, the Guyana Bank for Trade and Industry, Citizens Bank and Demerara Bank Limited.
The final discussions were held this morning at 2.30, he said.
This move will be enabled by the removal of the corporate income tax on interest income from loans extended by banks to the poultry sector.
