The Development Bank of Rwanda (BRD) hosted H.E. Abdullah Kh. Almusabeeh, President of the Arab Bank for Economic Development in Africa (BADEA), for a high-level meeting to deepen the longstanding cooperation between the two institutions and advance their shared commitment to sustainable development financing.
The meeting culminated in the signing of a new USD 25 million financing facility that will strengthen BRD’s capacity to finance projects that support sustainable development and job creation- including exports and manufacturing, affordable housing, and women-led enterprises- in line with Rwanda’s Vision 2050 and the National Strategy for Transformation (NST2).
Over the years, the partnership between BRD and BADEA has enabled BRD to diversify its funding sources and strengthen its capacity to deliver impactful development financing solutions across key sectors of the economy.
Speaking at the meeting, H.E. Abdullah Kh. Almusabeeh, President of BADEA, commended the productive partnership with BRD, a key partner in economic development with a remarkable track record of fostering private sector development in Rwanda.
“I am confident that the implementation of this new USD 25 million facility will further enhance BRD’s operational capacity and its support for micro, small, and medium-sized enterprises (MSMEs), as well as other private sector actors across Rwanda. The facility is also expected to stimulate job creation and contribute meaningfully to poverty reduction and economic growth, thereby improving livelihoods across Rwanda,” he said.
On her part, the Chief Executive Officer of BRD, Ms. Stella Rusine Nteziryayo welcomed the continued partnership with BADEA and emphasized the positive impact the collaboration has had on BRD’s development mandate.
“BADEA has been a valued strategic partner in BRD’s journey toward becoming a leading development finance institution in the region. The new US$25 million facility will strengthen our ability to finance transformative projects that contribute to Rwanda’s economic growth, job creation, and sustainable development priorities,” she said.
The CEO further noted that the facility aligns with BRD’s strategy to expand access to long-term financing while strengthening partnerships with international financial institutions that share BRD’s commitment to development impact.
BRD and BADEA reaffirmed their commitment to strengthening their partnership and exploring additional areas of cooperation that support inclusive and sustainable economic development across Rwanda and the African continent.
