The Development Bank of Rwanda (BRD) as a lending custodian of the Economic recovery Fund (ERF2) named the fund Hatana. HATANA, translated to “be relentless” in English, was selected as the brand name for this fund at BRD to encourage businesses to keep thriving and revive their businesses. HATANA is a five-year strategic project that will help reduce the current trade deficit, enabling more investment for exports and import substitution made in Rwanda products. In order to raise awareness of Hatana ERF2, BRD is running a nationwide campaign from 10th November 2022 to 2nd December 2022 – covering the following districts across all provinces in Rwanda; Nyarugenge, Kamonyi, Muhanga, Gisagara, Gicumbi, Musanze, Bugesera, Rwamagana, Nyagatare, Karongi, Rubavu and Rusizi.
This nationwide campaign aims to engage manufacturers, women businesses, entrepreneurs and other sectors by fostering discussion and allowing them to ask any questions they may have regarding how to apply and obtain the Hatana ERF2 .
HATANA ERF2 has three components: an investment window, a working capital window, and a refinancing window. Clients can get up to Rwf5 billion through the investment window depending on their business turnover with an interest rate of 8% per annum. The tenure can last up to 15 years, with a possible grace period of three years. New businesses are eligible, as are existing ones with expansion plans. For these businesses to benefit from this window, they are requested to show the jobs created and the percentage of women hired. Sectors eligible for the investment window are the manufacturing sector and linked value chains.
Clients can get up to Rwf300 million through the working capital window with an interest rate of 8% per annum, depending on their business turnover, for five years with a moratorium of one year. For businesses to benefit from this window, they must show a drop of at least 20% in the latest sales compared to pre-COVID. The lending structure in this economic recovery fund phase two is through BRD and other commercial banks. BRD recommends that clients use their banks with existing borrowing relationships.
All businesses in the following sectors are eligible to apply; construction materials, agro processing, textile and manufacturing, other light manufacturing subsectors and their linked value chain and affordable housing made in Rwanda component only. Further information about applying, eligibility and more can be accessed via hatana.brd.rw/
About BRD
Since 1967, the Development Bank of Rwanda (BRD) Plc. has been the leading provider of long-term investment loans to projects in the priority sectors of the Rwandan economy including Digital Economy, Exports & Manufacturing, Education, Renewable Energy, Affordable Housing, and Special Projects.
Cynthia Uwacu, c.uwacu@brd.rw
Tel: +250 788 317 764
Website: www.brd.rw
