Unicomer through its sister company, Redstart Guyana benefited from a US$25 million-dollar loan from the Inter-American Development Bank (IDB). Redstart Guyana is the Real Estate Division of Unicomer.
The loan will facilitate the construction of a commercial complex and Megastore at Farm, East Bank Demerara under the name “River Place.” Moreover, it is anticipated that the financing received from IDB Invest will significantly increase the company’s growth and expand “business opportunities for local micro, small and medium enterprises (MSMEs).”
Approximately, one hundred persons will be employed during the construction phase of the project and thirty (30) spaces will be provided for businesses to operate, once completed.
Moreover, the loan agreement is part of the IDB’s support for private sector investment projects in Guyana. During the signing, IDB Group country representative Ms. Lorena Solorzano posited that her organization is committed to supporting investment to “promote improved productivity to boost development in the region.”
The agreement was signed by Ms. Lorena Solorzano Salazar, IDB Group country representative and Mr. Errol Leblanc, Vice President of Redstart Guyana Inc.
Redstart Guyana is a subsidiary of Redstart Limited and is jointly owned by Milady Group and Liverpool Group, which was incorporated in Guyana in 1991.