Regulatory Alerts2020-06-02
National Bank of Rwanda Directive on the Economic Recovery Fund
The National Bank of Rwanda issued Directive No. 0300/2020-00015 to establish operational requirements and eligibility criteria for accessing the Economic Recovery Fund through participating banks and limited microfinance institutions. The directive establishes three financing windows—Hotel Refinancing, Working Capital/Line of Credit, and Microbusiness—each featuring distinct interest rates, tenors, grace periods, and turnover-based eligibility thresholds. Participating institutions must submit pre-approved loan applications, disburse funds to qualifying businesses, and adhere to strict repayment schedules and periodic reporting to ensure targeted economic recovery.
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