Rwanda - Bank of Kigali


Project Summary

Approval Date 19 Nov 2010
Signature Date 17 Nov 2011
Sovereign / Non-Sovereign Non Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 8,769,750.21
Status Implementation

Project General Description

The proposed transaction is a US $ 12 million line of credit (LOC), split into USD 8 million as sub debt and USD 4 million as senior loan to the Bank of Kigali (BK) in order to meet it's need for long-term funding. BK's principal credit products are overdrafts, short, medium, and long-term loans. These are funded mainly by deposits with terms ranging from 1 -9 months and current accounts; both interest and non-interest bearing. The LOC, the first to BK from the ADB's private sector window, will support BK priority sectors, including agriculture, mining, manufacturing, energy and water, public works and construction, trade and tourism, communication and services. This line of credit, which runs for up to 10 years with a grace period of up to 2 years, will enable the Bank of Kigali to finance various sectors in the long term.

Project Objectives

The credit facility will enable BK extend long-term credits to enterprises and enable them restructure their own balance sheets, improving efficiency. The credit facility will help BK increase the range of products it offers to its customers catalysing competition and improving the skills levels of BK staff.

Beneficiaries

The main beneficiaries of the propose lines of credit would be BK, its stakeholders, and the Small and Medium-sized enterprises (SMEs) engaged in productive sectors of the economy i.e., Agriculture value chain activities; manufacturing, tourism and hotel development etc.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-RW-HAB-001
Last Update 31 Oct 2019

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Contact Details

Email private-sector@afdb.org

Geographic Location

Country Rwanda