Bank of Kigali. Photo/FILE
NATION MEDIA GROUP
By KABONA ESIARA
Bank of Kigali has borrowed $30.7 million from the European Investment Bank, to finance private enterprises.
The credit line to Bank of Kigali is part of $252 million the
European Investment Bank (EIB) pooled to its second East and Central
Africa Private Finance Facility.
Besides Rwanda, lenders in Burundi, Uganda, Tanzania, Kenya and
the Democratic Republic of Congo are financed by the European Investment
Bank.
In Rwanda, BK officials said the money is currently available for borrowers for a minimum period of five years.
Bank of Kigali had $30 million to support its long term
financing needs and after EIB pumping $30 million, the loan book has
grown by $60 million.
“Rwanda’s medium term goal is to build a private sector led
economy, support job creation and ultimately transform people’s
livelihoods. This, to us is a very important transaction that will back
Bank of Kigali’s efforts of expanding access to finance for private
investment,” said Dr. Diane Karusisi, CEO Bank of Kigali.
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