Under the agreement, $20 million will go toward the expansion of the Karenge Water Treatment Plant in Rwamagana District, while $25 million will be channeled through the Development Bank of Rwanda (BRD) to support SMEs with affordable financing.

The loan agreement was signed in Kigali by Godefrey Kabera, Minister of State in charge of the National Treasury at the Ministry of Finance and Economic Planning, and Sayinzoga Kampeta Picthette, CEO of BRD, alongside Fahad Abdullah Aldossari, Chairman of BADEA’s Board of Directors.

Kabera commended the longstanding partnership between Rwanda and BADEA, noting that the bank has consistently supported Rwanda’s infrastructure development, including roads such as Huye–Kitabi, Nyagatare–Rukomo, and Rubengera–Gisiza.

“This is a concessional loan with very favorable terms that will enable us to continue advancing our national development agenda as outlined in NST2 and Vision 2050, aiming for Rwanda to achieve high-income status,” Godefrey Kabera stated.

BRD’s CEO Kampeta Picthette highlighted that the funds will help improve access to long-term, low-interest credit for local entrepreneurs, particularly women, youth, and exporters, as part of the country’s broader industrialization and export strategy.

“These funds will allow us to expand support to SMEs, offering them financing that is both affordable and flexible, thereby boosting job creation and export growth,” Kampeta Picthette said.

According to Asaph Kabasha, CEO of WASAC Group, works to expand the Karenge Water Treatment Plant are already underway and are 18% complete. Once finalized, the plant’s capacity will increase from 12,000 to 48,000 cubic meters per day, significantly improving water supply in Kigali and parts of the Eastern Province.

BADEA Board Chairman Fahad Abdullah Aldossari reaffirmed the bank’s commitment to supporting Rwanda’s development ambitions, noting that since 1974, BADEA has financed projects worth over $300 million in Rwanda, mainly in infrastructure and economic growth sectors.

“Our partnership with Rwanda continues to deliver tangible impact, improving livelihoods and supporting inclusive development across Africa,” Aldossari remarked.

The signing ceremony was attended by several senior officials, including Minister of Infrastructure Dr. Jimmy Gasore, Zimbabwe’s Ambassador to Rwanda Prof. Charity Manyeruke, Governor of the National Bank of Rwanda Soraya Hakuziyaremye, and RDB Deputy CEO Julianna Muganza.