Economics & Development

The objective of the Additional Financing of the Access to Finance for Recovery and Resilience Project for Rwanda is to increase access to finance and support recovery and resilience of businesses affected by the COVID-19 pandemic. The AF financing will also support targeted adjustments and activities to sustain implementation momentum and enhance development impact. Specifically, the AF will support alignment of project design with updated implementation arrangements, the launch of the BLW pilot, and the scaling up of BRD’s SME TA program. Together, these measures are expected to sustain implementation momentum, address remaining gaps, and support achievement of the PDO. The MTR confirmed strong implementation performance, a finding further corroborated by the Government’s midterm evaluation completed in September 2025. As of end‑2025, the project had reached 9,597 enterprises, representing 64 percent of the target, with a strong focus on microenterprises and continued engagement of savings and credit cooperative organizations (SACCOs) as participating financial institutions (PFIs), underscoring the relevance and scalability of the proposed AF.