The Central Bank has issued guidelines for the Economic Recovery Fund estimated at over $200 million (approximately Rwf186bn) aimed at supporting local businesses that are hardest hit by the coronavirus pandemic.
The regulator has released a directive on the operationalization of the fund to all the 16 local banks as well as Limited Liability Micro-finance institutions.
The fund will be managed by the Central Bank and disbursed through local financial players.
The fund which is estimated at over $200 million (approximately Rwf186bn) with the government injecting aninitial $100M is aimed at supporting local businesses that are hardest hit by the coronavirus pandemic.
According to a concept note of the fund seen by The New Times, the fund will be managed by the Central Bank which will lend to banks for the purpose of lending to borrowers.
