IFC provides US$10-million credit line facility to I&M Bank

The International Finance Corporation (IFC) has provided a US$10-million loan facility to I&M Bank (Rwanda), which must be used to support small to medium enterprises (SMEs) that were impacted by Covid-19 related liquidity challenges. The bulk of businesses in Rwanda fall in this segment and the IFC took the view that the most efficient methodology to provide access to funding to SMEs in Rwanda would be through I&M Bank.

I&M Bank is the oldest financial services institution in Rwanda with services ranging from retail to business banking. The government holds 20% shareholding and the public holds 80% shareholding in the bank which is listed on the Rwandan Stock Exchange.

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