Printer Friendly

-BRD to lend more to small businesses.

Global Banking News-March 13, 2013--BRD to lend more to small businesses(C)2013 ENPublishing -

Global Banking News - 13 March 2013

Development Bank of Rwanda (BRD) has said that it would lend more to small businesses.

The bank said that it would lend more to small and medium enterprises in agriculture, agro-processing, information communication technology, education and tourism sectors that need working capital. The bank has allocated a USD8m loan from the African Development Bank (AfDB) for the private sector.

This is the fourth line of credit that AfDB is extending to BRD; they have been associated for the past 16 years.

Negatu Makonnen, AfDB resident representative, said, 'The AfDB line of credit and the FAPA technical assistance are aligned with the AfDB's private sector operational priorities for long-term financing to support private sector development especially where long-term financing is scarce. This program will enable BRD to respond effectively to challenges of developing and promoting the private sector SME development in Rwanda.'

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Mar 13, 2013
Previous Article:-Eesti Pank sets standards on restoration of important banking services.
Next Article:-Italian central bank governor warns about 'blind backlash' against financial firms.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters