, Finance Minister Dr. Ashni Singh (fourth from left), alongside representatives of Demerara Bank and other officials at the ground-breaking ceremony for the Bank’s Leonora location (Photo: Avidesh Narine/ News Room/ July 14, 2022)</p>
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President Dr. Irfaan Ali (fifth from left), Finance Minister Dr. Ashni Singh (fourth from left), alongside representatives of Demerara Bank and other officials at the ground-breaking ceremony for the Bank’s Leonora location (Photo: Avidesh Narine/ News Room/ July 14, 2022)
Already, Leonora is benefitting from private investments in a new mall and entertainment centre, hospital and housing scheme.
The government is also steaming ahead with the establishment of the Wales Development Authority on the West Bank of Demerara (WBD), which will see the creation of Guyana’s first gas-to-shore project that will harness natural gas produced in oil fields offshore to generate cheaper electricity.
New infrastructural works, including the creation of the new Demerara River crossing and a new four-lane highway from Schoonord to Crane, are also expected.
 in conversation with Demerara Bank’s Chief Executive Officer Pravichandra Dave (Photo: Avidesh Narine/ News Room/ July 14, 2022)</p>
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President Dr. Irfaan Ali (right) in conversation with Demerara Bank’s Chief Executive Officer Pravichandra Dave (Photo: Avidesh Narine/ News Room/ July 14, 2022)“The scale of development is changing rapidly.
“… this investment with everything else that is happening around here will create a modern economic hub that will create thousands of jobs,” the Guyanese Head of State posited.
With the expected development, however, Dr. Ali cautioned the general public that the demand for housing and services will skyrocket. But if businesses capitalise on that, he reasoned that they should be able to benefit from significant, new commercial activities.
Similarly, Senior Minister within the Office of the President with responsibility for Finance Dr. Ashni Singh hailed the “strategic choice” Demerara Bank made in choosing a location for its forthcoming branch.
He also called on Demerara Bank and other financial institutions operating in Guyana to provide readily- accessible and affordable financing to help businesses expand and capitalise on emerging opportunities.
