MICROCAPITAL BRIEF: Rwanda's Bank of Kigali Announces Three Microfinance Products Targeting Rural Financial Inclusion

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.... Continue reading here. Contact MicroCapital to receive a complete sample issue of the MicroCapital Monitor, the monthly microfinance newspaper.