COVID-19 Emergency Programme for Small and Medium Enterprises (SMEs) in Rwanda

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Export-oriented small and medium-sized enterprises (SMEs) are particularly affected by the economic impacts of the COVID-19 pandemic (including a decline in growth, a collapse in demand, border closures). The Rwandan government's Economic Recovery Plan has so far not provided any support for export-oriented SMEs. In order to cushion the negative effects of the crisis and to be able to react to the reopening of the markets, Rwandan exporters need financial support, among other things, to cover operating costs, but also to make investments in working capital and inventory. With the approval of the COVID-19 emergency program for SMEs, the second phase of the FC project Financial Sector Development Promotion of Growth and Export-Oriented Small and Medium-Sized Enterprises in Rwanda will be financed, whereby with an FC grant of EUR 5.0 million from the project sponsor BRD, loans can be provided to selected PFIs as before and used to grant loans to growth and export-oriented SMEs.