The agreement, signed on March 26, 2026, in Kigali, marks a strategic partnership that brings together EADB’s financial expertise and the UN’s technical capacity and convening power to support the growth and development of SMEs in Rwanda.
The two institutions said the collaboration seeks to strengthen support for SMEs, which are widely regarded as the backbone of Rwanda’s economy, driving job creation, innovation and inclusive growth.
Speaking at the signing ceremony, EADB Acting Director General Benard Mono said the partnership is designed to provide a more coordinated and impactful response to barriers affecting SMEs.
“By combining the UN’s strength in technical expertise, capacity building, and social development with EADB’s role as a development finance institution, we are working to expand access to tailored financing, strengthen entrepreneurial skills, and support innovation, especially among youth and women-led enterprises. It will also address challenges faced by SMEs such as access to finance and capacity building,” he said.
Mono noted that the initiative will also help SMEs integrate into value chains, enabling them to scale and compete more effectively both regionally and globally.
The partnership aligns with Rwanda’s broader national priorities of promoting private sector growth and building a resilient economy.
On her part, Fatmata Lovetta Sesay, the UN Resident Coordinator, described the MoU as a shared commitment to unlocking the full potential of SMEs and entrepreneurs across the country.
“Ultimately, this collaboration will contribute to job creation, strengthen SME growth and sustainability, and expand economic opportunities on a larger scale,” Sesay said.
Sesay noted that the partnership builds on engagements between the two institutions since 2024, anchored on EADB programmes that already support over 500 SMEs across sectors such as agriculture, commerce, transport and manufacturing.
She added that the partnership will be implemented through a clear plan, with a steering committee providing strategic guidance and a technical working group managing day-to-day activities.
Under the agreement, the partners will co-develop tailored financial solutions such as concessional loans, blended finance, guarantees and equity instruments, alongside targeted technical support and knowledge-sharing initiatives.
SMEs remain central to Rwanda’s economic transformation, and this partnership is expected to unlock new opportunities, strengthen their growth, and accelerate inclusive development across the country.
Established in 1967, the East African Development Bank is owned by its four member states including, Rwanda, Kenya, Uganda and Tanzania, as well as other development and commercial financial institutions. The Bank provides financial and technical support to projects that contribute to socio-economic development and regional integration across the region.
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