The Rwanda Housing Finance Project, RHFP is a Government of Rwanda (GoR) Project implemented by the Development Bank of Rwanda (BRD) and financed by the World Bank to the tune of Rwf150 Million USD. The aim of the project is to expand Housing finance to households and support capital market development in Rwanda.

BRD on-lends the funds to the Participating Financial Institutions (PFI’s) at an interest rate of 6% after the PFI’s sign Participation Agreement. The PFI’s will on-lend the funds to eligible beneficiaries at a maximum interest rate of 11% up to a period of 20 years. The Borrowers will access mortgages through Participating Financial Institutions that have signed Participating Agreements with BRD.



Development Bank of Rwanda (BRD) seeks to promote affordable housing basing on two-twin pillars of “mortgage finance and production of bankable housing” through focusing on both short, medium and longer term market interventions to address challenges around housing finance in Rwanda.

The Bank’s key financing interventions include;

  • Increasing supply, bankability and affordability of housing, reduce the national housing deficit;
  • Increasing availability and pricing of housing finance (mortgage loans);
  • Standardize all aspects of lending, make mortgage loans a commodity;
  • Improve liquidity of mortgage loans, create risk management mechanisms to improve safety and performance;
  • Create funding links to local capital markets where there is long term funds and desire to invest in mortgage securities.

The successful provision of affordable housing relies on the twin pillars of mortgage finance and production of bankable housing.

  • Rugarama Park estate;
  • Kimisange and Kagarama Estates;
  • Land banking projects for Ziniya, Ndera and Busanza; and
  • Building a piece of land (situated at former US Embassy) for the new BRD premises for commercial purposes.

The Housing Department will also focus on finding more sites for housing development in the six secondary cities – that is – Muhanga, Rubavu, Huye, Nyagatare, Rusizi and Musanze.