Rwanda: Access Bank Secures Rwf4.6 Billion Loan to Support SMEs

9 September 2015

The African Development Bank Group has extended a $6 million (about Rwf4.6 billion) line of credit to Access Bank Rwanda to support small and medium entrepreneurs and women in business, writes Peterson Tumwebaze.

Negatu Makonnen, the AfDB country representative, said the money will be channeled through Access Bank Rwanda, adding that the funding will support initiatives geared at enhancing private sector investments and thus spark economic growth. He added that the money will help increase productivity and create jobs for Rwandans across various sectors of the economy, including agriculture, manufacturing and construction. The loan is under the AfDB SME programme that was launched in 2013. The four year programme is worth $125 million, and targets about 25 financial institutions across Africa.

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