Press Release: Affordable agri loans, increased local production and access to new markets in the pipeline -President Ali

His Excellency President Dr Irfaan Ali said that his Government is negotiating with commercial banks to secure cheaper financing for agriculture as Guyana advances plans to expand food production, reduce import dependence, and strengthen its position as a regional food hub.

Earlier this week at the Farmers’ Conference, the President shared plans to boost local production of poultry hatching eggs, create a 30-acre coconut seedling facility, improve storage and processing, and help more farmers and agro-processors reach overseas markets.

The President said the Government is working on incentives for banks, like those used for low-income housing loans, to help farmers get financing for medium- and large-scale production.

He disclosed that Republic Bank has already committed to setting aside resources for agricultural lending at a preferential interest rate, with negotiations continuing on the rate. Demerara Bank, he noted, is offering poultry loans at five per cent, and the Government is working to secure a further reduction through the proposed incentives.

“That is what we do every single day for farmers. We work hard. We try to bring the private sector along.”

President Ali also stated that almost 30 per cent of applications received by the newly launched Development Bank were for agriculture, which points to renewed confidence in the sector and growing interest by non-traditional farmers, including young people and women.

Sustained investments

The Head of State highlighted substantial increases in agricultural production under his Government since 2020, including an 18 per cent rise in rice production, almost 250 per cent growth in coconut production, almost 10 per cent growth in fruits, almost 21 per cent growth in vegetables, and an increase of more than 110 per cent in poultry production. The President also identified big increases in honey production, alongside better processing, packaging, and export opportunities.

He linked these gains to sustained investment in infrastructure, supportive policies, and farmers’ efforts, while stressing that rising domestic demand requires further increases in output and productivity.

“These investments are not accidental; these investments are following the lead of government and the policies that we are implementing.”

The next phase of expansion

President Ali said that in the next phase of investments, Guyana is working on producing half of its poultry hatching eggs locally by the end of next year, and nearly all by the end of 2028.

In aquaculture, the President said a major Guyanese private investment, which is expected by the end of 2026, would place the country among the region’s significant investment destinations for the industry.

Meanwhile, successful onion production in Region Nine could allow Guyana to meet its entire domestic onion requirement for the first quarter of 2027 without imports.

To help expand and renew coconut farming, President Ali said he has asked the Minister of Agriculture to move forward with a 30-acre coconut seedling project, which, according to the Head of State, is expected to save money in the long run.

More markets and stronger protection against supply shocks

The President highlighted progress in securing markets for locally processed foods, including negotiations with regional distributors Massy and ANSA McAL. Approximately five containers of agro-processed products are expected to be shipped by the end of this year through these market arrangements.

He also noted that pepper products from a Black Bush Polder agro-processing business are now sold in supermarkets in Qatar. This, he explained, shows what farmers, processors, and the Government can achieve by working together.

President Ali also encouraged wider use of long-term purchasing agreements to help farmers secure more stable prices and ensure processors have a steady supply.

He emphasized that storage capacity will also be central to protecting consumers and producers from disruptions caused by extreme weather, disease, and changing global markets.

The Government has started several programmes, including building rice storage facilities in Regions Two and Three, a national honey storage facility, more cold storage, and a regional food hub for fresh produce. Private investment in poultry storage is also increasing.

All these investments are part of a bigger plan to create a three-month food supply buffer and to make Guyana a regional centre for food storage and supply, with closer ties to northern Brazil and the Caribbean.

Linking infrastructure to higher productivity

The President underscored that investments in agricultural infrastructure should come with clear productivity plans made together with farmers. New farm-to-market roads and drainage systems, for instance, must translate into more cultivated land, higher yields, and stronger market connections.

“So, every farm, every single farm, we should have a productivity plan.”

He also highlighted investments at the Guyana School of Agriculture to give students experience with modern technology, scientific advances, and model farms. The President reminded that along with the Government, farmers, banks, processors, and retailers all play major roles in growing production and keeping food affordable in Guyana.

“Together, I can assure you, from what we are already achieving, together we will build a sector by 2030 that is unimaginable.”

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