France and Rwanda’s public development banks to partner for sustainable growth
On Friday February 18th, Ms. Kampeta Sayinzoga, CEO of the Development Bank of Rwanda (BRD) and Mr. Arthur Germond, country Director of the Agence Française de Développement (AFD) in Rwanda, signed two financial agreements totaling 20.5 million EUR (24.3 billion RWF), aimed at supporting BRD in the rapid delivery of its development objectives.
The signing ceremony was chaired by Honorable Dr. Uzziel Ndagijimana, Minister of Economic Planning and Finance of Rwanda and the French Ambassador, H.E. Antoine Anfré.
A 20 million EUR (23.7 billion RWF) long-term credit facility from AFD is dedicated to accompanying the growth of BRD’s lending activity with clear agreed development targets. The credit facility allows BRD to access funding on a period of 13 years.
This facility will further enable BRD to provide affordable loans to Rwandan Small and Middle enterprises, with an extended maturity of up to 15 years for Government priority sectors.An additional 0.5 million EUR grant (592 million RWF) from AFD will specifically finance technical assistance to enhance BRD’s capacity to fulfil its mandate, in order to reach the following purposes:
Strengthening the strategic positioning of BRD as a development bank, enabling it to create additionality in the Rwandan financial sector, and promote sustainable growth in the priority sectors of the national economy.
Reinforcing the bank’s risk management and financial steering capacities, in line with its future strategy.
Increasing BRD’s developmental impact by supporting its positioning as a green bank through the definition of a climate strategy and the development of its environmental and social risk management and monitoring practices.
