In Rwanda, a nationwide lockdown swiftly followed the initial COVID-19 outbreak in mid-March 2020, resulting in the closing of schools across the country. In June, the government launched wide-ranging school expansion plans to ensure that schools could reopen and maintain social distancing measures. The venture – supported by the World Bank – required the building of 22,500 new classrooms and other essential facilities.
BACB was keen to support the project. Through collaboration with the Bank of Kigali and advising banks in Egypt, BACB was able to leverage its banking network and add its guarantee to the transactions. The bank was able to help the Rwandan government achieve their goals and complete the necessary building work by the end of 2020, as well as supporting intra-regional trade in Africa.
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