Project General Description
The project involves a $ 6 million line of credit (LOC) from the Bank to Access Rwanda under the Africa SME program to on-lend to its SME clients. Access Rwanda is a member of the Access Bank Group which has its headquarters in Lagos, Nigeria and with whom the African Development Bank (AfDB) has had a long standing relationship. The Rwanda subsidiary was established in 2008 when Access Bank PLC took a 75% ownership in Bancor SA. The LOC will enable Access Rwanda increase its lending to local SMEs and make medium to long term financing available to various key sectors of the country, thereby promoting inclusive growth.
The objective is to support the SME Product Development and Promotion of Women Banking. The line of credit (LOC) will be specifically used to fund the anticipated growth of the SME loan book, especially the medium to long term portion of the loan book, with a specific target on various key sectors such as telecom, school/education, tourism/services, construction etc. and also focus on women entrepreneurs.