Rwanda - Third Line of Credit to the Rwandan Development Bank

The project consists in granting a loan of UA 6 million to the Rwandese Government, which will onlend it to the Rwandese Development Bank (BRD). BRD is the principal productive activities development financing institution in Rwanda. The loan is meant to finance direct and indirect foreign exchange costs of goods and services required under the implementation of the investment projects of the SME/SMI sub-projects in the industrial and services sectors. The African Development Bank Group has already financed two lines of credit for the BRD, which were, on the whole, satisfactorily executed. The present project benefits from the lessons drawn from the second line of credit, which has just been completed and will accelerate private investment in Rwanda, which will help to further stimulate and diversify industrial production, increase revenues in foreign exchange, generate jobs and revenues. It will help to alleviate poverty, particularly among the vulnerable groups, including women, little or non skilled workers of the urban and rural areas. The project will be implemented over three years.