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Publish Date : 13-May-2015

A $3 million credit facility deal has been inked between the Development Bank of Rwanda (BRD) and the Great Lakes Development Bank that will see it stretch out credit to organizations in the agrarian, energy and education arenas. Alex Kanyankole, BRD's CEO, said the credit line was the start of a long time collaboration between the two budgetary organizations.

He said, "This agreement illustrates the vitality of this cooperation which will enable BRD to be engaged in re-enforcing its private sector and small and medium enterprises operations in Rwanda." He said companies would not be constrained on the measure of credit they request which would be passed out and reimbursed in times of up to 10 years.

Silis Rwigamba Mu Binani, Great Lakes Development Bank's managing director, said the line of credit was a piece of a $10 million credit line imparted between the development banks of Rwanda, Burundi and DR Congo. Rwigamba said, The Development Bank of Burundi got $2 million while the one in DR Congo got $5 million.

He said, "The line of credit is in line with Great Lakes Development Bank's private sector operational priorities for long term financing to support private sector development, especially where long term financing is scarce."

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