Rwanda allocates 105 mln USD to finance businesses affected by COVID-19

KIGALI, June 9 (Xinhua) -- Rwanda has allocated 100 billion Rwandan francs (about 105 million U.S. dollars) for a loan scheme to support businesses affected by COVID-19, a senior Rwandan official said here Monday.

The funds, equal to about one tenth of Rwanda's total gross domestic product, are available to businesses applying to their respective commercial banks, Uzziel Ndagijimana, minister of finance and economic planning, said on Rwanda Television.

Eligible businesses are those affected by the coronavirus and in need of finance to maintain operations during the current severe pandemic, Ndagijimana added.

The funds "will ensure that businesses keep operating normally and no employee would lose their jobs due to the impact of COVID-19," he said.

The funds will be accessible to businesses at an affordable interest rate for a period of two years, and a national committee has been established to oversee fund disbursements and assess applications from businesses, said the minister.

As of Monday evening, Rwanda has reported 451 coronavirus cases, with 297 recoveries and two deaths. 

Source: Xinhua

Disclaimer
The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.
Top