| Financier | Commitments |
|---|---|
| Asian Infrastructure Investment Bank | 100.00 |
| Global Facility for Disaster Reduction and Recovery | 7.50 |
| IDA Credit | 125.00 |
| IDA Grant | 25.00 |
Access to Finance for Recovery and Resilience Project
Abstract*
A. Country Context
Rwanda’s economy has been hit hard by the COVID-19 pandemic. The COVID-19 pandemic has resulted in the worst contraction since the global financial crisis. On aggregate, the economy for Sub-Saharan Africa contracted by 2.6 percent in 2020 compared to 3.2 percent growth recorded in 2019, the first recession in the region in the last 25 years. The severe contraction in 2020 reflects macroeconomic risks arising from the sharp decline... Show More
Development Objective
The Project Development Objective (PDO) is to increase access to finance and support recovery and resilience of businesses affected by the COVID-19 pandemic.
Key Details
Project Details
P175273
Active
Leyla Castillo , Brice Gakombe
Ministry of Finance and Economic Planning
Rwanda
May 11, 2021
(as of board presentation)
June 14, 2021
October 21, 2021
US$ 297.50 million
Business Development Fund,Development Bank of Rwanda
2021
US$ 257.50 million
N/A
Substantial
August 31, 2028
No
BANK APPROVED
June 21, 2024
Finances
Financing Plan (US$ Millions)
Total Project Financing (US$ Millions)
| Product Line | IBRD/IDA |
|---|---|
| IBRD Commitment | N/A |
| IDA Commitment | 150.00 |
| IBRD + IDA Commitment | 150.00 |
| Lending Instrument | |
|---|---|
| Grant Amount | 107.50 |
| Total Project Cost** | 297.50 |
Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025
No data available.
| Period | Financier | Transaction Type | Amount (US$) |
|---|---|---|---|
| Mar 26, 2024 | IDA-73240 | Loan Cancel | 80,000,000.00 |
| Feb 1, 2023 | IDA-69270 | Int Charges | 18,967.42 |
| Jun 14, 2021 | IDA-69260 | Loan Commitment | 100,000,000.00 |
| Jun 14, 2021 | IDA-69270 | Loan Commitment | 25,000,000.00 |
| Jun 14, 2021 | IDA-D8520 | Loan Commitment | 25,000,000.00 |
| May 30, 2023 | IDA-73240 | Loan Commitment | 100,000,000.00 |
| Aug 1, 2022 | IDA-69260 | Int Charges | 20,526.73 |
| Feb 1, 2023 | IDA-69260 | Int Charges | 5,761.34 |
| Feb 1, 2023 | IDA-69260 | Int Charges | 20,151.88 |
| Feb 1, 2023 | IDA-69260 | Int Charges | 46,914.89 |
| Feb 1, 2023 | IDA-69260 | Int Charges | 337,218.10 |
| Sep 2, 2022 | IDA-69260 | Loan Disb | 26,336,308.00 |
| Feb 4, 2022 | IDA-69260 | Int Charges | 105,813.58 |
| Nov 26, 2021 | IDA-69260 | Fee Charges | 238,941.31 |
| Mar 17, 2022 | IDA-69260 | Loan Disb | 1,108,303.40 |
| Apr 15, 2022 | IDA-69260 | Loan Disb | 5,085,723.00 |
| Jun 13, 2022 | IDA-69260 | Loan Disb | 16,572,757.00 |
| Feb 6, 2024 | IDA-69260 | Int Charges | 299,706.30 |
| Feb 1, 2024 | IDA-69260 | Int Charges | 167.56 |
| Aug 1, 2024 | IDA-69260 | Int Charges | 58.57 |
| Aug 1, 2024 | IDA-69260 | Int Charges | 34,654.55 |
| Aug 1, 2024 | IDA-69260 | Int Charges | 332,708.40 |
| Feb 6, 2024 | IDA-69260 | Int Charges | 35,326.04 |
| Aug 1, 2023 | IDA-69260 | Int Charges | 36,384.85 |
| Aug 1, 2023 | IDA-69260 | Int Charges | 1,940.85 |
| Aug 1, 2023 | IDA-69260 | Int Charges | 224,267.70 |
| May 10, 2024 | IDA-D8520 | Loan Disb | 79,075.86 |
| Aug 1, 2022 | IDA-69260 | Int Charges | 91,877.31 |
| Jun 12, 2024 | IDA-D8520 | Loan Disb | 774,447.44 |
| Dec 11, 2023 | IDA-D8520 | Loan Disb | 2,000,000.00 |
| Jun 20, 2023 | IDA-D8520 | Loan Disb | 1,021,930.90 |
| Sep 8, 2023 | IDA-D8520 | Loan Disb | 127,249.13 |
| Jun 29, 2022 | IDA-D8520 | Loan Disb | 215,310.00 |
| May 9, 2022 | IDA-D8520 | Loan Disb | 193,000.00 |
| Mar 16, 2022 | IDA-D8520 | Loan Disb | 1,092,912.00 |
| May 3, 2023 | IDA-D8520 | Loan Disb | 85,854.88 |
| Feb 6, 2024 | IDA-69270 | Int Charges | 29,024.35 |
| Feb 6, 2024 | IDA-69270 | Int Charges | 29,024.35 |
| Aug 1, 2024 | IDA-69270 | Int Charges | 28,765.13 |
| Aug 1, 2024 | IDA-69270 | Int Charges | 28,765.13 |
| Nov 29, 2022 | IDA-69270 | Loan Disb | 5,466,718.50 |
| Aug 1, 2023 | IDA-69270 | Int Charges | 30,234.17 |
| Aug 1, 2023 | IDA-69270 | Int Charges | 30,234.17 |
| Jul 28, 2022 | IDA-69270 | Loan Disb | 2,926,739.50 |
| Feb 1, 2023 | IDA-69270 | Int Charges | 191.06 |
| Feb 1, 2023 | IDA-69270 | Int Charges | 191.06 |
| Feb 1, 2023 | IDA-69270 | Int Charges | 18,967.42 |
| Oct 13, 2023 | IDA-73240 | Loan Disb | 10,000,000.00 |
Ratings
IMPLEMENTATION RATINGS
| Name | Review | Date |
|---|---|---|
| Progress towards achievement of PDO | Moderately Satisfactory | 2025-01-09 |
| Procurement | Moderately Satisfactory | 2025-01-09 |
| Monitoring and Evaluation | Satisfactory | 2025-01-09 |
| Project Management | Satisfactory | 2025-01-09 |
| Financial Management | Satisfactory | 2025-01-09 |
| Overall Implementation Progress (IP) | Moderately Satisfactory | 2025-01-09 |
COMPLETION RATINGS
No data available.
INDEPENDENT EVALUATION RATINGS
No data available.
Results Framework
PROJECT DEVELOPMENT OBJECTIVE INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of firms receiving financial support under the Project (cumulative) Value 0.00 2679.00 15090.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Average tenor for investment loans supported by the project Value 8.00 8.70 10.00 Date May 31, 2021 September 30, 2023 December 31, 2026 Comment Volume of loans provided under the Project (cumulative) Value 0.00 65563218.00 300000000.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Employment multiplier Value NA 9,556 >1 Date June 30, 2021 September 30, 2023 December 31, 2026 Comment Number of firms receiving financial support under the Project (cumulative) Value 0.00 2679.00 15090.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Private Capital Mobilized Value 0.00 213251692.00 220000000.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment
INTERMEDIATE RESULTS INDICATORS
| INDICATOR | BASELINE | CURRENT | TARGET |
|---|
Number of small and micro enterprises receiving business development services through the project, through BDF (cumulative) Value 0.00 83.00 1064.00 Date June 30, 2021 September 30, 2023 December 31, 2026 Comment Number of microenterprises receiving loans under the project (cumulative) Value 0.00 2277.00 6200.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Number of firms receiving loans guaranteed by BDF disaggregated by firm size (cumulative) Value 0.00 309.00 8000.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Firms that report Project financing and support reflected their needs Value 0.00 0.00 70.00 Date June 30, 2021 September 30, 2023 December 31, 2026 Comment Volume of loans provided to firms supporting climate change mitigation or adaptation activities (cumulative) Value 0.00 0.00 20000000.00 Date May 30, 2023 May 30, 2023 August 31, 2026 Comment Share of women inclusive firms receiving business development services through the project (cumulative from BDF and BRD) Value 0.00 46.00 50.00 Date June 30, 2021 September 30, 2023 December 31, 2026 Comment Number of firms receiving loans for refinancing, working capital and investment under the Project (cumulative) Value 0.00 93.00 900.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Bridge lending window established Value No No Yes Date June 30, 2021 September 30, 2023 December 31, 2026 Comment Report on survey of beneficiaries prepared and disclosed Value No No Yes Date September 30, 2021 September 30, 2023 December 31, 2026 Comment Number of businesses receiving technical assistance support through BRD (cumulative) Value 0.00 0.00 118.00 Date June 28, 2023 September 30, 2023 December 29, 2028 Comment Women inclusive firms receiving financial support through the project (cumulative) Value 18.00 58.00 35.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Number of firms with loans covered by bridge lending window (cumulative) Value 0.00 0.00 5000.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Non-performing loan (NPL) ratio of project portfolio Value 4.50 3.70 5.00 Date December 31, 2020 September 30, 2023 December 29, 2028 Comment Volume of loans covered by bridge lending window (cumulative) Value 0.00 0.00 10000000.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Sustainability-linked bond issued by BRD Value No No Yes Date May 30, 2023 September 30, 2023 September 1, 2025 Comment Share of loan portfolio guaranteed by BDF supporting women-inclusive firms Value 39.00 34.00 50.00 Date June 30, 2021 September 30, 2023 December 29, 2028 Comment Volume of sustainability-linked bonds issued by BRD (cumulative) (Amount (RWF)) Value 0 0 60,000,000,000 Date May 30, 2023 September 30, 2023 August 30, 2028 Comment Rejection Rate on Claims submitted to BDF Value 25.00 32.00 5.00 Date June 30, 2021 September 30, 2023 December 31, 2026 Comment Guarantee Recovery Rate Value 0.30 1.00 20.00 Date June 30, 2021 September 30, 2023 December 31, 2026 Comment Non-performing loan (NPL) ratio of BDF guaranteed portfolio Value 14.00 9.00 8.00 Date April 30, 2021 September 30, 2023 December 31, 2026 Comment