Friday
December 4
2020

The Development Bank of Rwanda Spearheads Economic Inclusion Among Refugees

By Edwin Ashimwe

The Development Bank of Rwanda (BRD) has secured $9 million (over Rwf8.5 billion) from the World Bank to finance entrepreneurial projects initiated by refugees in Rwanda.

The development is part of the $60 million agreement signed between Rwanda and the World Bank in 2019.

It seeks to stimulate financial institutions’ lending to refugees.

Under this agreement, BRD will provide matching grants to financial institutions that fund projects initiated by refugees or host communities as micro-small and medium enterprises, cooperatives or individuals.

Photo courtesy of NESA by Makers.

Source: The New Times (link opens in a new window)

Categories
Entrepreneurship
Tags
coronavirus, entrepreneurship, financial inclusion, global development, MSMEs, refugees