The French Development Agency has signed two agreements with Bank of Kigali in a bid to support the bank to increase lending to the small and medium Enterprises.
The two agreements signed on Thursday include a Long term Credit line Agreement where the French agency will provide Bank of Kigali with 20 million USD which will be disbursed in four installments of 5m USD each.
The second agreement will see the French Development Agency contribute to a guarantee fund an amount of 6 million Euro covering 50% of agreed SME portfolio. Yves Terracol, Regional Director for French Development Agency.
French envoy to Rwanda Ambassador Laurent Contini on his part said that the sealing of this deal was proof that relations between Rwanda and France were getting even better.
He termed the move by The French Development Agency to undertake this project as an indicator that France was committed to contributing to the development of Rwanda particularly in strengthening of the financial sector.
French envoy to Rwanda Ambassador Laurent Contini. Other officials present at the signing ceremony were; Central Bank governor Francois Kanimba, the Chairman, Bank of Kigali Board of Directors Lado Gurgenidze and Shareholder representative, Deputy Accountant General for Treasury Caleb Rwamuganza.