The Development Bank of Rwanda (BRD) has listed its Sustainability-Linked Bond (SLB) on the Rwanda Stock Exchange (RSE) market to attract more investments that will spur development projects in sustainable environment, SMES financing and affordable housing mortgages.
The Rwf30 dillion SLB bond, which is the first-of-its-kind to be floated by a national development bank globally, was unveiled by the Minister of State in the Ministry of Finance and Economic Planning (MINECOFIN) in charge of the Treasury, Richard Tusabe, who said that the bond is a ground-breaking initiative that demonstrates the commitment of the Government of Rwanda to promote sustainable development.
“I would like to commend our development bank for their innovative approach to sustainable finance. This bond is a game-changer in the world of sustainable development, and I have no doubt that it will set a new standard for other financial institutions to follow,” Tusabe said.
He pointed out that the bond provides an opportunity for investors to support projects that have a positive impact on the environment and society. Tusabe added that the proceeds from this bond will be used to finance projects that add value to the economy.
The Minister of state in charge of National Treasury, Richard Tusabe said that this bond is a ground-breaking initiative that not only demonstrates our commitment to sustainable development but also provides an opportunity for investors to support projects that have a positive impact on the environment and society.
“I would like to commend our development bank for their innovative approach to sustainable finance. This bond is a game-changer in the world of sustainable development, and I have no doubt that it will set a new standard for other financial institutions to follow,” Tusabe said.
Tusabe stated that the proceeds from this bond will be used to finance projects that
RSE Chief Executive Officer, Pierre Celestin Rwabukumba said that this is a big milestone for Rwanda and since the product is on sustainability, a trendy topic, which is here to stay for a long time.
“For our market it is also a big milestone because it is the first product coming to us and there are many more in the coming months and years because the framework has been put in place. Am sure the BRD one is a good one because they have a good reputation and performance,” Rwabukumba said.
The bond, issued in partnership with the World Bank, is the first tranche of the bank’s Rwf150 billion proposed Medium Term Note (MTN) program and this will be done for the next five years with different bond features (and prospectus).
