Mauritius Commercial Bank (MCB) and Bank of Kigali signed on July 26, 2021, a loan facility of $ 20 million primarily intended to finance general business projects of the Rwandan bank.
“This 20 million USD term loan from Mauritius Commercial Bank Limited will increase the liquidity of Bank of Kigali and support our efforts to finance the economic recovery of our clients who have been affected by the Covid-19 pandemic, in particular the small and medium-sized enterprises, ”said Dr Diane Karusisi, CEO of Bank of Kigali.
In turn, Alain Law Min, CEO of MCB Ltd, said he was “convinced” that this loan “will greatly help the efforts of Bank of Kigali to support local entrepreneurs in their efforts to rebuild the local economy. I am also delighted that this transaction further strengthens the long-standing relationship between our respective organizations ”.
Founded about 55 years ago, Bank of Kigali Plc is a systemically important bank in Rwanda and the injection of funds into the economy is expected to boost the growth and development of the country.