The Rwanda Development Bank (BRD), sometimes known as the Development Bank of Rwanda, is a Rwandan financial institution dedicated to economic growth and development (BRD). As a licensed financial institution in Rwanda, it is regulated by the National Bank of Rwanda.
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Overview
Since its founding in 1967, the bank has been providing long-term funding for projects that contribute to the greater good of the nation. The bank has an estimated total asset value of US$122 million (RWF:72 billion) as of April 2011, with shareholders’ equity of US$42.3 million (RWF:25 billion).
Impact zones
- Agriculture.
- Exports and Manufacturing.
- Student loans.
- Energy, housing, and infrastructure.
- The internet economy and social infrastructure are all areas where intervention is being implemented.
BRD has, over the years, effectively created long-term collaborations with INGOs, RIBs, GIs, and other government agencies.
Based on certified results of the assessments in the areas of governance, the Bank has been consistently ranked among the best-performing development finance institutions in Africa (PSGRS).
The heart of BRD’s Strategy
The BRD is now charting a new trajectory as a national development bank with an exclusive emphasis on development. To “accelerate broad-based, sustainable economic transformation and prosperity creation” is the new vision’s explicit mandate. BRD has outlined four overarching strategies to realize this goal:
Focused investments and growth
Investments made by the bank will be in line with the bank’s strategy and priority areas, and the bank will work to grow in these areas. BRD will guarantee that the investments it makes are lucrative and help it expand in order to ensure that they have a long-term impact.
Forging robust alliances
BRD will seize every opportunity to forge robust and varied alliances in the pursuit of its development goals.
The goal of maximizing the bank’s contribution to development in Rwanda and the region is central to the institution’s mission. This strategic goal will be central to every action BRD does.
Building strong partnerships
More resources will be mobilized to fund this ambitious goal, which is in keeping with BRD’s development mandate and its expectations. The bank’s resources will never be enough to cover the cost of Rwanda’s transition. The bank will look into potential strategies for increasing investments from non-traditional funders and contributors such DFIs, pension funds, and impact investors.
A new objective and set of priorities based on five priority areas have been outlined to help bring this vision to life. All of these endeavors will be motivated by the following core principles:
Realistic
By maintaining a commercial focus, BRD will help accelerate the flow of money into development projects.
Focused
Because of the large number of people in need and the limited amount of funding available, BRD will be narrowing its attention to a few, high-impact “flagship” activities.
Involved
BRD will communicate the company’s new course of action with care and manage the expectations of both internal and external stakeholders.
Open to all segments of Rwandan society, with a particular emphasis on the underserved, BRD will bring about widespread improvement with a focus on women and young people.
As part of their new mandate, the Banks will work to improve conditions in five key industries. The funding will go toward things like:
- Increase investments in energy development.
- Speed up export development.
- Catalyze agricultural financing.
- Foster affordable housing.
- Manage and streamline financing for education loans.
- Promote housing that is both inexpensive and sustainable.
Women, young people, and other marginalized groups will be given special attention as BRD takes on these key sectors with a pragmatic, focused, inventive, active, and inclusive approach.
To that end, the East African Development Bank and the Development Bank of Rwanda (BRD) have signed a credit line agreement for $15 million to bolster the private sector.
BRD will be able to lend money over the long term to new and existing small, medium, and micro businesses across the country thanks to this credit facility.
