Rwanda through the Development Bank of Rwanda (BRD) and Local Administrative Entities Development Agency (LODA) received a grant of €44 million (approximately Rwf50 billion) aimed at supporting social protection programmes and boosting exports in Small and Medium Enterprises (SMEs).
The financing deal was signed Monday on November 29 by Rwanda’s Minister for Finance and Economic Planning, Uzziel Ndagijimana, and the Regional Manager of Kreditanstalt für Wiederaufbau (KfW), Bettina Tewinkel.
Also present was the German envoy in Rwanda among others.
According to the agreement, €36 million will be allocated to social protection programmes through LODA under Vision Umurenge Programme (VUP), and €8, 66 million will go towards the expansion of the long-term refinancing line for on-lending to export-oriented SMEs.
Speaking after the signing, Ndagijimana commended Germany for the…