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The Grenada Development Bank is the renamed Grenada Agricultural and Industrial Development Corporation which itself was the successor to the Grenada Agricultural Bank, originally established in 1965.

 

The Corporate name, Grenada Agricultural and Industrial Development Corporation, was changed to the Grenada Development Bank by People’s Law No. 33 of 1980, which became effective on July 18, 1980.

 

The primary purpose of the Grenada Development Bank is to assist in the economic development of Grenada by providing financial and technical assistance in the areas of Agriculture, Fisheries, Tourism, Industry, Housing, Small Business Development and Human Resource Development.

 

The Bank is authorised to act generally as agent for the Government where it can do so appropriately and in a manner not inconsistent with its functions. The Bank is empowered by Section 12 of the Act to borrow sums required for meeting any of its obligations or discharging any of its functions.

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