{"id":43838,"date":"2023-06-05T09:57:21","date_gmt":"2023-06-05T09:57:21","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector"},"modified":"2023-06-05T10:15:46","modified_gmt":"2023-06-05T10:15:46","slug":"rwanda-receives-us100m-from-world-bank-to-boost-private-sector","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector","title":{"rendered":"Rwanda Receives US$100M From World Bank To Boost Private Sector"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>The World Bank has approved an additional credit of US$100 million in IDA financing to support Rwanda in increasing access to finance and supporting businesses\u2019 recovery and resilience in the post-pandemic period.<\/p>\n

The additional finance will scale up investments under the Access to Finance for Recovery and Resilience project by providing financial relief, risk-sharing instruments, and long-term sources of funding to businesses.<\/p>\n

The additional financing will support an innovative Sustainability-Linked Bond instrument to be issued by the Development Bank of Rwanda (BRD) in local currency \u2013 a first for a World Bank operation, facilitating the mobilization of private capital in an IDA country.<\/p>\n

This type of transaction is also a first for a development bank globally and provides a model that could be scaled up in Rwanda and elsewhere in the region.<\/p>\n

The bond issuance will be part of a programmatic SLB issuance program to support the Development Bank of Rwanda\u2019s institutional strengthening through diversifying its funding sources via capital markets while nourishing its role and commitments to achieving Key Performance Indicators aligned with Rwanda\u2019s sustainable economic development.<\/p>\n

\u201cThe additional financing will further expand the project\u2019s pool of innovative blended finance which had already brought together World Bank financing with funding from the Asian Infrastructure Investment Bank and a grant from the Global Facility for Disaster Reduction and Recovery,\u201d said Rolande Pryce, World Bank Country Manager for Rwanda.<\/p>\n

\u201cThis innovative operation goes a step beyond by enabling private capital mobilization, representing yet another great example of the fruitful collaboration with the Government of Rwanda to build solid foundations for Rwanda\u2019s socioeconomic transformation.\u201d<\/p>\n

The BRD Sustainability Linked Bond program is expected to align closely with BRD\u2019s broader strategic objectives of promoting sustainable economic development.<\/p>\n

The program will rely on a sound sustainability-linked financing framework, including specific measurable Key Performance Indicators, which will enable the program to receive the \u2018sustainability-linked\u2019 label.<\/p>\n

The identified indicators will be relevant, core, and material in relation to BRD\u2019s activities and the Government of Rwanda\u2019s sustainable development objectives; measurable; externally verifiable; and benchmarkable.<\/p>\n

With this operation, the Government of Rwanda will play an enabling role in BRD\u2019s foray into long-term institutional sustainability and sustainability-linked financing.<\/p>\n

The issuance is expected to act as an important signal for the wider use of debt markets, promote this form of financing among other potential issuers, contribute to domestic capital market development, and position Rwanda as a leader in sustainable finance regionally.<\/p>\n

The proposed transaction is also expected to position Rwanda favorably internationally and support broader private-sector capital flows to strategic sectors.<\/p>\n

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In addition, the proposed issuance could provide a template for broader sustainability development in the financial sector.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. The World Bank has approved an additional credit of US$100 million in IDA financing to support Rwanda in increasing access to finance and supporting businesses\u2019 recovery and resilience in the post-pandemic period. The additional finance will scale up investments under the Access to Finance for Recovery and Resilience project by providing financial […]<\/p>\n","protected":false},"author":84,"featured_media":43837,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[760,763,758],"class_list":["post-43838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-rwanda","tag-rwanda"],"yoast_head":"\nRwanda Receives US$100M From World Bank To Boost Private Sector - Rwanda<\/title>\n<meta name=\"description\" content=\"The World Bank has approved an additional credit of US$100 million in IDA financing to support Rwanda in increasing acce ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rwanda Receives US$100M From World Bank To Boost Private Sector\" \/>\n<meta property=\"og:description\" content=\"The World Bank has approved an additional credit of US$100 million in IDA financing to support Rwanda in increasing acce ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-05T09:57:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-05T10:15:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/06\/sm_1685947432.464536.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1023\" \/>\n\t<meta property=\"og:image:height\" content=\"602\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Rwanda Receives US$100M From World Bank To Boost Private Sector\",\"datePublished\":\"2023-06-05T09:57:21+00:00\",\"dateModified\":\"2023-06-05T10:15:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector\"},\"wordCount\":484,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2023\/06\/sm_1685947432.464536.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"Rwanda\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/economy\/rwanda-receives-us100m-from-world-bank-to-boost-private-sector\",\"name\":\"Rwanda Receives US$100M From World Bank To Boost Private Sector - 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