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-BRD to lend more to small businesses.

Global Banking News-March 13, 2013--BRD to lend more to small businesses(C)2013 ENPublishing - http://www.enpublishing.co.uk

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.'

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Publication:Global Banking News (GBN)
Date:Mar 13, 2013
Words:187
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