Washington, D.C., October 16th, 2019 – The Development Bank of Rwanda became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs.
“200 million businesses worldwide need financing to invest, grow and create new jobs. We are proud to have The Development Bank of Rwanda join our network of more than 160 members who work to expand access to finance for small and medium businesses,” said Matthew Gamser, CEO of the Forum.
The Development Bank of Rwanda has sought to bolster the country’s economy through loans to SMEs and other financing activities for over 40 years. The Bank has financed about 80% of Rwanda’s medium- and long-term loan portfolio in the productive ventures.
“As a development bank, a key strategic objective of our institution is to support SME growth through creation and delivery of innovative financial products; we achieve this by developing partnerships with like-minded enterprises and those interested in investing in Rwanda. We believe the SME Finance Forum is a crucial platform that can help us reach these goals,” said Eric Rutabana, CEO of the Development Bank of Rwanda.
To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list
About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative.
About The Development Bank of Rwanda
The Development Bank of Rwanda (BRD) has operated for over 52 years with the goal of accelerating the socioeconomic development of Rwanda through financing the activities of SMEs. Priority sectors of investment for the Bank include agriculture, education, energy, exports, and housing. Within these priority sectors, the Bank provides loans, guarantee funds, equity and trade finance, among other services.
Media Contacts
Carina Carrasco: ccarrasco@worldbank.org
Farah Siddique: fsiddique@ifc.org
