The Bank of Kigali (BK), a commercial bank based in the Rwandan capital, has announced the development of three microfinance products that will allow rural populations to acquire loans without collateral.
BK expects to introduce a women's entrepreneurship account, a youth entrepreneurship savings account and a senior citizens' account [1].
To help in the development of the three new products, news website allAfrica.com reports that BK has mobilized USD 20 million from the French Development Agency (AFD in French), USD 5 million from the European Investment Bank and an anticipated additional USD 12 million from an unnamed international development bank [2,1].
Further information regarding the terms of these deals are....
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