|Approval Date||16 May 2017|
|Signature Date||14 Nov 2017|
|Sovereign / Non-Sovereign||Non Sovereign|
|DAC Sector Code||24030|
The project seeks to provide a 10 year (upto 2 year grace period) LoC to Development Bank of Rwanda (BRD) amounting to USD 20 million. The LoC will contribute to the financing of BRD’s pipeline which comprises enterprises in various transformational sectors including in agriculture, energy and manufacturing, affordable housing, with special emphasis on energy financing sectors. BRD aims to focus on high impact lending to the private sector while maintaining sustainable financial growth. Overall, the lending will avail important longer term resources to SMEs and corporate companies in Rwanda especially in the areas focused on Energy, Agribusiness and Manufacturing. This targeted lending shall therefore enable BRD to contribute to poverty alleviation and sustainable economic transformation in Rwanda.
The objective of this project is to contribute toward reducing financing constraints faced by the private sector and SMEs in Rwanda, promoting private sector development and broadbased economic growth through job creation, increased productivity and enhance household incomes. At the level of BRD, the primary objective of the project is to enhance BRD’s capacity to implement its Strategy Plan 2016-2020 whose focus is to accelerate broad based and sustainable economic transformation and poverty alleviation in Rwanda.
The direct beneficiaries of the intervention are the Rwanda Development Bank (BRD), the Government of Rwanda (RGO), as well as small and medium-sized enterprises (SMEs).
African Development Bank
|Last Update||31 Oct 2019|