The Co-operative Republic of Guyana is a high-income country with a population less than a million people. This small South American nation shares borders with Suriname, Brazil, and Venezuela and has strong Caribbean roots. Guyana is a founding member of the Caribbean Community (CARICOM).

Its fertile agricultural lands, rich mineral resources such as bauxite and gold, vast forests covering 80% of the land, and offshore oil and gas reserves estimated at 11.2 billion barrels have contributed to rapid GDP growth since 2019. Coastal flooding remains a significant environmental challenge, threatening Georgetown and agricultural activities along the Atlantic coast.

The World Bank Group supports Guyana’s vision for inclusive development by investing in people through education and health, climate-smart infrastructure across energy and housing, strong institutions for effective governance, and a dynamic private sector to drive innovation and resilience.

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Guyana is one of the world’s fastest-growing economies, fueled by rapid oil sector expansion. In 2024, GDP increased by 43.4%, supported by oil production reaching 225 million barrels, and the ripple effect from oil is leading to increased construction, manufacturing, and agriculture. Non-oil GDP rose 13.1%, driven by government-led public investment.

The country’s oil revenues, managed through the Natural Resource Fund (NRF), are financing ambitious infrastructure and human capital programs. Amendments to the NRF Act in 2024 increased budget withdrawals, heightening fiscal spending risks.

The fiscal deficit widened to 17.9% of non-oil GDP despite transfers equaling 15.7% of non-oil GDP. Inflation remained moderate (2.9%), though food prices rose faster (5.7%), excessively affecting low-income households. Guyana’s poverty rate fell from 60.9% in 2006 to 48.4% in 2019, though recent data on poverty reduction is not available. Social exclusion and limited access to services persist in hinterland regions.

GDP per capita reached $29,883 in 2024. The current account surplus grew to 24.4% of GDP, while the debt-to-GDP ratio declined slightly to 24.1%. Guyana is also advancing in carbon and biodiversity credit markets and forest conservation.

Medium-term growth is projected to remain strong, with oil output expected to exceed 1.3 million barrels/day by 2027. Non-oil GDP is forecast to grow by an average of 9.4% annually (2025–2027), supported by local content spillovers and sustained investment. Risks remain elevated due to global commodities price volatility and environmental pressures, along with border controversy with neighboring Venezuela.

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The World Bank’s current portfolio in Guyana totals $312.87. It covers six main areas: education, public health, natural resource management, non-oil economy competitiveness, and environmental resilience.

The Bank’s strategy for 2023-2026 aligns with Guyana’s development goals and the Low Carbon Development Strategy 2030.

People- Increasing human capital, through investment in education and health, to build a more resilient, skilled population in Guyana. The education project enhances access and facilities of secondary schools, modernizes TVET, and enhances teaching quality. The One Health initiative strengthens public health systems by integrating human, animal, and environmental health with a focus on underserved communities.

Infrastructure- Enhancing Economic Competitiveness by supporting infrastructure and energy upgrades. The transport corridors project aims to increase trade and mobility across critical regions of Guyana. At the same time, the green building initiative promotes energy efficiency and job creation for a more sustainable economy.

Planet- Building Climate and Environmental Resilience, supporting Guyana to improve its coastlines and communities against climate risks. The coastal adaptation project enhances flood protection for over 300,000 people and upgrades and builds critical infrastructure.

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The World Bank Group's strategy for Guyana, outlined in the Country Partnership Framework (CPF)through 2026, aligns with national development goals, including the country’s revised Low Carbon Development Strategy. The Bank’s portfolio totals $312.87 million, covering six key areas: education, public health, natural resource management, transport, renewable energy and environmental resilience.

Guyana became a JCR office in July 2024, showing the World Bank Group’s commitment to inclusive, resilient, and sustainable development.  With the International Finance Corporation (IFC) now fully integrated into country-level leadership, Guyana now stands to have direct access to a full suite of financial tools, advisory services, and global expertise.

This new engagement supports Guyana’s rapid economic growth, fueled by oil reserves and a focus on climate resilience, human capital, and the local private sector growth. Priority sectors include agribusiness, tourism, education, SME finance, and infrastructure, with a focus on transport and logistics.

This integrated approach spanning IBRD, IDA, IFC, and MIGA has positioned Guyana to garner support in its drive to develop a diversified economy. The partnership also reflects the World Bank Group’s shared vision: reducing poverty, empowering communities, and ensuring prosperity on a livable planet.

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