MCB gives $20million loan to Bank of Kigali

A USD 20M loan has reportedly been signed between the Mauritius Commercial Bank (MCB) and Bank of Kigali Plc. The aim of this loan is to provide additional liquidity to Bank of Kigali Plc over a 1-2 year period, to facilitate the execution of its lending strategy.

The loan proceeds will reportedly be used mostly to fund their general corporate projects and support the local entrepreneurs in their effort to build back the local economy.

The Bank of Kigali is a systemically important bank in Rwanda and injection of the funds into the economy, it is said, will likely boost growth and development.

This transaction is reportedly one among the many partnership areas MCB and Bank of Kigali Plc have had over the years across various spectrums of normal banking activities and more specialised advisory services around Capital Markets and Consulting.