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Tuesday, 26 July 2016

Rwandan companies to benefit from new RWF 48 billion lending programme

The European Investment Bank has agreed to support a new lending initiative by Bank of Kigali to back private sector investment across Rwanda. The European Investment Bank will provide EUR 28 million (RWF 24 billion) alongside EUR 28 million being provided by Bank of Kigali for the nationwide programme. This represents the first Rwandan operation under the European Investment Bank’s second East and Central Africa Private Finance Facility, a EUR 230 million regional lending scheme that supports private sector investment in Rwanda, Burundi, Uganda, Tanzania, Kenya and the Democratic Republic of Congo. The European Investment Bank is Europe’s long-term lending institution, owned directly by the 28 European Union member states and the world’s largest international public bank. “Rwanda’s medium term goal is to build a private sector led economy, support job creation and ultimately transform people’s livelihoods.

Source: eib.org