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BK and European Investment Bank signed agreement of €100 million for supporting agriculture

The Bank of Kigali (BK) and the European Investment Bank signed a €100 million sustainable agriculture financing initiative on the 15th of March that will support farmers and agricultural businesses across Rwanda to better withstand the economic, social, and business impacts of climate change.

This initiative is part of the European Union’s Global Gateway partnership and complements the Team Europe initiative Investing in Sustainable and Inclusive Agricultural Transformation in Rwanda, bringing total European support to the sector to €384 million.

Speaking at the event, BK CEO Dr. Diane Karusisi said: “It is an honor to be here as we are going to witness this milestone in partnership with EIB. We are embarking on this journey to strengthen the agriculture sector in Rwanda.”

She added that this collaboration is going to be manifested through a €100 million investment partnership to support farmers and the whole ecosystem to ensure we achieve Food Security, Sustainable lives in Rwanda, and achieve the resilience against the climate change shock.”

European Investment Bank Vice President Ostros Thomas said: “This investment partnership is expected to touch the lives of people, to support agriculture development with the aim to increase food security. Improved access to financing is also very important in boosting growth and creating sustainable jobs in the agriculture business.”

The investment represents the largest ever European Investment Bank support for the private sector in Rwanda. The scheme will provide a substantial boost to smallholders, businesses, and enterprises dependent on climate-vulnerable agriculture across Rwanda.

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