Bdf- Women’s bridge to accessing finance

Kampala, Uganda | THE INDEPENDENT | BDF is an independent company that was created in collaboration of the Government of Rwanda and the Development Bank of Rwanda (BRD). The fund is one of the implementing institutions of the National SME Development Policy and has been mandated to implement the “Access to Finance” objective.

This below is a SPECIAL Women’s Day message

*****

As we celebrate this International Women’s Day, we take this opportunity to appreciate all partners who continue to support Business Development Fund (BDF) in achieving the objectives of facilitating women to access finance. Recognizing the importance of women empowerment, the Government of Rwanda has put in place various programs that are mandated to facilitate women in Business Development and Access to Finance.

BDF is an independent company that was created in collaboration of the Government of Rwanda and the Development Bank of Rwanda (BRD). The fund is one of the implementing institutions of the National SME Development Policy and has been mandated to implement the “Access to Finance” objective.

Special groups that include women benefit more from this intervention whereby BDF SME Guarantee Fund and Agriculture Guarantee Fund cover women’s loans to a maximum of 75% of the total loan issued by the bank/ Microfinance Institutions or SACCOs.

To date, 408 projects promoted by women have benefited from BDF’s Agriculture Guarantee Fund covering total loans worth Rwf. 3,669,908,198 and 2361 women’s SME projects that are loans worth 7,833,934,007. Another program intended for SACCO refinancing to support women who carry out commercial trade in boarder areas has also created capacity to start and improve businesses carried out by women who belong into cooperatives around the border areas.

Under this program, SACCO is given 5,000,000 RWF without any interest charges to give to each cooperative that requests for a loan. Cooperatives that receive this loan facility from SACCO, receive a grant of 50% from BDF. Hence the cooperative pays 50% of the loan to SACCO with a subsidized interest of 10%. Another facility designed to support women is a SACCO refinancing program for women and girls who have graduated from the Adolescent Girls Initiative (AGI) program with start-up toolkit /equipment.

This support is provided through SACCOs loans to beneficiaries at a very subsidized interest rate and also benefit from a grant of 50% of the total loan. Many other projects promoted by women continue to benefit from other programs offered by BDF leading to creation of thousands of jobs. We wish joyful celebrations of this important day to all women and promise BDF’s continued support.