Bank of Kigali signs agreement with European Investment Bank to finance biz in Rwanda

Bank of Kigali has ventured into an agreement with the European Investment Bank to finance several business investments in Rwanda.

Signed on the margins of the ongoing 2019 Africa CEO forum in Rwanda’s capital Kigali, the deal will see European Investment Bank dispatch Rwf30 billion to support investment by Rwandan firms engaged in a range of productive sectors.

“We have found the right partner in European Investment Bank to ensure that financing is not a bottleneck to creating a vibrant private sector in Rwanda,” Chief Executive Officer of BK Group Dr. Diane Karusisi said during the signing ceremony attended by senior officials from both banks. “BK is committed to serving business communities with the best banking solutions and this is yet another milestone towards that commitment,” she added.

According to KT Press, the agreement signed between Bank of Kigali and European Investment Bank will include training to improve banking and credit risk management, environmental and social best practice and sector-specific skills such as agriculture value chain financing, among others.

“This builds on the European Investment Bank’s support for the private sector across Africa and the joint commitment of the African Union and European Union to support sustainable investment and jobs,” Ambassador of the European Union to Rwanda, Nicola Bellomo said.

Ambroise Fayolle, Vice President of the European Investment Bank and Dr Diane Karusisi, Chief Executive Office of Bank of Kigali formally agreed the new private sector cooperation in the presence of the Ambassador of the European Union to Rwanda. pic.twitter.com/NhXDrAjbE9

— BK Group PLC (@BankofKigali) March 25, 2019

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