At the Cara Inn launch in Kitty, Georgetown, Tuesday night, its Chairman, Mr. Audley Walker said the intention is to invest US$1.5M here over the next 12 months and half of that sum is already committed to an unnamed local business venture.

He said their long-term view of this country is that it possesses the potential to be among the most important economic forces in the Caribbean.

"We have financed viable private enterprise in Guyana and we will continue to do so as long as we are encouraged," Walker assured.

He also gave the assurance that DFL will develop close partnerships and industrial knowledge which would allow it to diversify portfolio in other areas, particularly in professional, business and engineering services, private health care, education and technology related industries with high growth potential.

Walker explained that the DFL credit rating, good corporate governance structure and capable management team would ensure it maintains the confidence of its funding agencies, among them Caribbean Development Bank (CDB) and European Investment Bank (EIB).

"They highly support our focus on the region," he asserted.

DFL is a specialised bank with its focus on the development of viable micro, small and medium-size enterprises and Walker pledged it will remain in Guyana as long as encouraged.

"We believe that a strong private sector is an essential ingredient for development and for the maintenance of our democracies. We take a regional view of the private sector in the Caribbean and we think it is also a global view," he said, noting that they have developed a good relationship with Guyana.

Walker said there is an urgent need for Caribbean entrepreneurs and private enterprises to prepare themselves to face the harsh reality of global market.

Alluding to the recent unfolding crisis globally, he said "just when we thought we had seen everything, including unimaginable events, such as 9/11, we are now caught up in a new series of fundamental changes around the world."

Acknowledging that people are currently meeting in world capitals to determine what will become of Iraq, speculate how the new Palestine state will fit in with the rest and determine the best way to avoid war in future, Walker said those decisions will affect the Caribbean, as well.

Chairman of Guyana Office for Investment (Go-Invest), Mr. Geoffrey Da Silva welcomed DFL as an institution needed in Guyana.