Rwanda Development Bank (BRD) has signed a USD 15million credit with the East African Development Bank (EADB) where the latter will to lend to the former to enable them support private investors’ projects in Rwanda.
During the ceremony of signing the agreement, the CEO of BRD, Alex Kanyankore has revealed that the credit will boost BRD’s contribution to the development of the nation.
“The credit will enable us to support construction, agriculture, export promotion, education sector, small and big industries,” he explained.
The CEO of EADB, Viviane Yeda has commended BRD for improving Rwandan economy. “We are glad to collaborate with BRD and satisfied with its achievements in improving Rwanda’s economic performance.”
From 2009 to 2013, EADB extended a credit of USD 15 million to BRD. The new obtained credit is part of the 2015-2019 BRD’s action plan.
BRD supports companies, cooperatives or individuals with articulate bankable business plans, recognized for providing big loans, supports small enterprises through transferring money into commercial banks and financial institutions.
BRD has supported projects worth Rwf 110 billion with 94% per cent of supported projects registering good performance while 6% of the loans are non-performing.
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