Rwanda Bank Receives $10 Million Line of Credit

Rwanda Bank Receives $10 Million Line of Credit

From All Africa.

Development Bank of Rwanda received a $10 million line of credit from regional development finance institution, East African Development Bank, to help fund small and medium enterprises.

Bank of Rwanda CEO Jack Kayonga said the funds will be used in lending for long-term projects in various economic sectors. In recent decades, the bank has focused on financing rural projects, especially small and medium enterprises and young entrepreneurs, he added.

The credit will be used to finance small and medium enterprises in agriculture, livestock, tourism, health and education, information computer technology and telecommunications, among others, Kayonga said.

Read more at All Africa.