Using the Japan International Cooperation Agency (JICA)-sponsored “Trust Fund for Private Sector Development in Latin America and the Caribbean (TADAC)” (Note 1), the Inter-American Investment Corporation (IDB Invest) has signed a US$5 million loan agreement with the Institute of Private Enterprise Development (IPED), a microfinance institution in the Cooperative Republic of Guyana, to expand financial access for micro and small businesses in the country. TADAC will contribute US$2.5 million.
With this loan, IPED will diversify its funding sources and improve access to finance for women, youth, and rural entrepreneurs. It is also expected to contribute to inclusive growth and job creation in the economy of the Cooperative Republic of Guyana, one of the world’s fastest growing economies, which is expected to grow at an average annual rate of 14% over the next five years.
The Caribbean Community (CARICOM), which includes Guyana, shares values with Japan such as democracy and the rule of law, and has always understood and supported Japan’s position in the international arena. In Guyana, rapid economic growth requires highly competent human resources in various sectors, including the oil-related industry. Through support for human resource development and industrial promotion, which will help strengthen the capacity of the private sector and create jobs, we will help strengthen the economic foundation of Guyana, which shares values with Japan.
(Note 1) JICA has invested up to US$1.5 billion in the Trust Fund Achieving Development of Latin America and the Caribbean (TADAC), a trust fund established by the Inter-American Development Bank (IDB), the largest development finance institution in the Latin America and Caribbean region, and managed by IDB Invest, the private investment and lending arm of the IDB Group. TADAC will provide co-financing in line with IDB Invest’s financing of private sector initiatives to achieve the SDGs. JICA will use its overseas investments and loans to contribute to the sustainable socio-economic development of the Latin America and Caribbean region by reducing the financing gap required to achieve the SDGs in the region.
Microenterprises of IPED loan recipients
Project Summary
Loan recipient
Institute of Private Enterprise Development (IPED)
Country (region covered)
Co-operative Republic of Guyana
Loan amount (maximum)
US$2.5 million
Project Name
Small and Micro Business Support Business
Business Objectives
This project will diversify IPED’s financing and improve access to finance for small and micro businesses in the Cooperative Republic of Guyana, thereby contributing to inclusive growth and job creation in the country.
Business Overview
Loans from the project will be used to finance IPED’s loans to women, youth, rural entrepreneurs, and other small and micro businesses. IDB Invest will also support market research to strengthen IPED’s capacity for the same loans.
Contribution to SDGs
Goal 8 (both job satisfaction and economic growth)
Goal 9 (Create a foundation for industry and technological innovation)
Goal 10 (Eliminate inequality among people and nations)
About TADAC: Signing of Investment Agreement for the Latin America and Caribbean Private Sector Development Trust Fund (Overseas Investment and Loan): Promoting SDG Achievement in the Region through Private Sector Initiatives ｜ News & PR – JICA
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