Latest update April 24th, 2024 12:59 AM
Jun 26, 2013 News
Assets of the country’s three micro-finance institutions reached $4.2 billion at the end of March.
This represents an increase of $267 million over 2013. This is revealed in a report by the Central Bank.
Three institutions – the Institute of Private Enterprise Development (IPED), Small Business Development Trust (SBDT), and Development Finance Limited of South America Incorporated (DFLSA) – are classified as micro-finance institutions (MFIs).
While the performance and condition of all three institutions are monitored and assessed by the Bank of Guyana, only DFLSA is licenced and supervised by the Bank.
Loans represented the largest asset category, which at the end of March 2013, represented 65 percent of the sector’s total assets. The MFIs reported aggregate loans of G$2,746 million (at March month end), a 9.4 percent (G$284 million) decline when compared with the corresponding period last year.
According to the Central Bank report, the portfolios of the institutions consisted mainly of micro credit and loans to small and medium enterprises (SMEs), which together accounted for 99.6 percent of total loans. Loans to SMEs amounted to $2.3 billion.
During the review period, 1,114 loans totaling G$674 million were granted, compared with 1,202 loans totaling $571million for the corresponding period in 2012. This reflected the escalation in the value of loans.
On the other hand, the fall-off in the number of loans granted could be attributed to the cessation of the granting of microcredit and SMEs loans by one of the institutions.
Notwithstanding the decline in the number of loans granted, 437 jobs were created during the review period compared with 452 for the same period last year. Of the 1,114 loans disbursed, 39 percent were to men, 33.4 percent were to men and women jointly and the remaining 27.6 percent were to women.
LISTEN HOW JAGDEO WILL MAKE ALL GUYANESE RICH!!!
Apr 24, 2024
Round 2 GFF Women’s League Division One Kaieteur Sports – The Guyana Police Force FC on Saturday last demolished Pakuri Jaguars FC with a 17 – 0 goal blitz at the Guyana Football...Kaieteur News – Just recently, the PPC determined that it does not have the authority to vitiate a contract which was... more
By Sir Ronald Sanders Waterfalls Magazine – On April 10, the Permanent Council of the Organization of American States... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]