Pas Cargo Guyana Inc. has become the first Guyanese private-sector company to secure financing from IDB Lab.
The loan agreement was signed on Tuesday at the Ministry of Finance and was overseen by Senior Finance Minister Dr. Ashni Singh. The Ministry said the agreement comes as Guyana’s economy continues to grow and more private sector companies widen investments across the country.
The agreement was signed by Pas Cargo Executive Director Shridat Narine and IDB Lab General Manager Graham Macmillan, who signed on behalf of the Bank.
Pas Cargo, established in Georgetown in 2012, provides logistics and freight-forwarding services, including cargo handling, customs brokerage, warehousing and last-mile delivery. The Ministry said the financing represents IDB Lab’s pioneering loan to a Guyanese private sector company and an important step in supporting locally led innovation and enterprise growth.
Speaking at the signing, Dr. Singh congratulated Pas Cargo on becoming the first Guyanese company to secure financial assistance from IDB Lab. He also encouraged more Guyanese companies to engage with IDB Lab and other private sector arms of international financial institutions.
Macmillan said he was pleased to be part of the first approved loan to a Guyanese company and expressed hope that more businesses would follow.
Narine said the loan approval was a breakthrough for Pas Cargo after 14 years of operating in Guyana. He said the company received positive support from the IDB Lab team throughout the application process.
Before the signing, Singh and his team held discussions with the IDB Group, including IDB Country Representative in Guyana Lorena Solórzano-Salazar and Macmillan, on broadening the Bank’s private sector footprint in Guyana through financial support for more projects across the country.
IDB Lab is the innovation and venture arm of the Inter-American Development Bank. It focuses on entrepreneurship and technology to support development solutions, new industries, startups and innovation ecosystems across Latin America and the Caribbean.
The Ministry said the Government continues to encourage investment as part of its wider strategy to support growth in the non-oil economy, including construction, agriculture, tourism, mining, manufacturing and logistics.
