€25m I&M Rwanda-Proparco deal to ease SMEs’ access to finance
I&M Bank Rwanda and Proparco have signed a Memorandum of Understanding (MoU) to expand lending to small and medium-sized businesses (SMEs) in Rwanda, in a deal that puts €25 million (approximately Rwf42.78 billion) of guarantee funding on the table for entrepreneurs who have long struggled to access bank loans.
Proparco, a French development finance institution, will provide two portfolio guarantees aimed at helping I&M Bank Rwanda extend financing to businesses that often struggle to meet collateral requirements.
The signing ceremony took place at the European Union residence in Kacyiru on Wednesday, May 13.
