FINA Bank Rwanda (FBR) and KfW Entwicklungsbank (KfW) have signed a financial agreement worth RWF 490.4 million (USD 860,000) to develop Rwanda’s Micro, Small and Medium Enterprises (MSMEs). The funds will be used for apprenticeship and training programs for both FBR’s staff as well as the microbusinesses to whom FBR lends money.  FBR’s Managing Director, Steve Caley stated that, “this gives [FBR] confidence that the funds will be well spent because by this [program] we know that the loans are given to trained people.”  This approach also includes the establishment of a specialized microfinance department within FBR.

About FINA Bank Rwanda (FBR):

FINA Bank Rwanda (FBR) is a microfinance bank with a network of branches in Rwanda, Uganda and Kenya. The bank’s principal activities is to provide banking for small and medium businesses.  FBR website: http://www.finabank.com/rw/home.php

 

About KfW Entwicklungsbank (KfW):

KfW Entwicklungsbank is a state-owned development bank based in Germany. The main avenue used by KfW is to conduct German bilateral cooperation on behalf of the government in pursuit of three goals: to reduce poverty, to make globalization fair and to conserve natural resources.
KfW website: http://www.kfw-entwicklungsbank.de/EN_Home/KfW_Entwicklungsbank/index.jsp
 

Bibliography:

FBR: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=FINA+Bank+Rwanda+%28FBR%29

KfW: http://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=KfW+Entwicklungsbank+%28KfW%29

 

Additional Resources:

[1] Original article: http://www.newtimes.co.rw/index.php?issue=14118&article=24002