The Development Bank of Rwanda (BRD) invites interested export-oriented business owners to apply for funding from the Export Growth Fund (EGF) through its Ambuka Competition. The Fund was established with the aim of supporting and stimulating the growth of export-oriented businesses in Rwanda by providing much-needed affordable financing and technical assistance.
The EGF offers a number of benefits to eligible businesses, including:
-Flexible financing terms that are tailored to the needs of each business with terms of up to 10 years and interest rates of up to 9%.
-Collateral-free financing, making it easier for businesses to access financing even if they do not have assets to pledge.
-Technical assistance to help businesses improve their export performance. This includes things like training on market research, product development, and export documentation.
Interested participants must meet the following criteria to apply:
-Be a Rwandan or registered Rwandan company or Enterprise operating in Rwanda.
-Having already made exports or intending to make exports
-Having a comprehensive business plan reflecting the targeted increase in exports, projections of expected production, exports return, expected developmental impacts and profits for the project and/or the company
-Having financial statements of the last 3 years for existing companies. 1- and 2-year financial statements are applicable to companies with 1 and 2 years of existence
-Having bank statements for 1 year
-Having defined financing needs in investment, working capital or matching grant
-Commit to comply with environmental regulations
The deadline for application is 17 September 2023.