BRD III

closed

The main objectives of the Third Banque Rwandaise de Developpement (BRD) Project are to: (i) provide the needed foreign exchange resources for high priority investments; (ii) assist in the development of a small-scale enterprise (SSE) program in Rwanda by helping implement a pilot program for financing SSE projects and by financing the cost of study necessary to develop a nationwide SSE development program; and (iii) help BRD continue developing its capabilities and evolve into a strong and mature financial institution. The main components are: (a) provision for a line of credit to BRD including: i) at most US$4.4 million to help BRD finance larger projects; ii) at least US$2.5 million for BRD's proposed program; and (b) US$0.1 million to help Government carry out studies for the development of an SSE program and of the interest rate structure in Rwanda. Benefits: Private and public sector investment would be promoted. BRD's capabilities and procedures particularly as regards assistance to SSE development would continue to be strengthened and improved. Risks: There is no major risk associated with this project.