Rwanda: Support to COVID-19 Economic Recovery Fund for Private Sector (AIIB-000483)

Countries
  • Rwanda
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Rwanda
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Apr 25, 2021


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Project Description

According to AIIB website, the project aims to address the liquidity and financing constraints of private sector businesses in response to and during the recovery from the COVID-19 crisis in Rwanda. This will, in turn, sustain MSMEs during the crisis period, and in post-crisis recovery, maintaining and creating employment. 

The Project will comprise 4 components:

  • Component 1 – Liquidity and recovery facility
  • Component 2 – Risk-sharing facility, to provide partial credit guarantees and de-risking mechanisms to MSMEs,
    in support of Component 1
  • Component 3 – Institutional strengthening and implementation, in support of Component 1
  • Component 4 – Contingency Emergency Response Component
Investment Description
  • Asian Infrastructure Investment Bank (AIIB)
Contact Information

Amina Rwakunda, Senior Economist, Macroeconomic Policy
Ministry of Finance and Economic Planning, Government of Rwanda

aminaa.rwakunda@minecofin.gov.rw

 

Suzanne Shaw

Infrastructure Sector Economist

suzanne.shaw@aiib.org

 

Gabriel Alfredo Giacobone

Infrastructure Sector Economist

gabriel.giacobone@aiib.org

 

Leyla Castillo

Senior Financial Sector Specialist

lcastillo2@worldbank.org

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html