• IDB Invest finances its first private-sector education project in the Caribbean.

GEORGETOWN, Guyana – IDB Invest and Republic Bank Guyana Limited partnered with Texila American University (TAU) to expand the university’s campus with new housing facilities for staff and students. The US$9 million financing package includes a senior loan of US$5 million from IDB Invest and US$4 million from Republic Bank.

The project is expected to contribute to an increased student enrollment of almost 73% by 2026 and a 20% increase in the number of graduated students by the same year. This will positively contribute to the human capital development of Guyana focusing on quality education.

New student housing will provide more affordable campus accommodations and include 86 two-room apartments and 16 one-room apartments. The staff housing will cater for 30 families of Texila's staff.

With IDB Invest’s support, TAU will strengthen its environmental and social practices by implementing an Environmental and Social Action Plan to enhance its capacity to manage risks and impacts associated with existing operations and the planned expansion.

The project is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): Quality Education (SDG 4).

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $16.3 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About Texila American University Guyana

Texila American University Inc. (TAU) is an accredited private university based in Guyana offering programs primarily in medicine, as well as in public health, business management, and Information Technology. The University Currently offers Medical (MD) and Premedical programs under the College of Medicine and offers Bachelor, Master’s, and Doctoral Programs under the Colleges of Business Management, Public Health, and Information Technology. 

About Republic Bank (Guyana) Limited

Republic Bank (Guyana) Limited is one of Guyana’s largest and longest operating financial institutions, celebrating a history of service to the people of the nation for more than 186 years. As a fully comprehensive bank, Republic Bank (Guyana) Limited provides its customers and clients customized, efficient, and competitively priced financial products and services across a network that spans 12 branches and 51 ATMs. Currently, in addition to the suite of services already provided, the Bank has placed significant attention on growing its lending portfolio, with particular emphasis on small and medium-sized enterprises. It has also strengthened its focus on corporate social investment driven by a long-ingrained philosophy of sustainable development in Guyana.