Kigali, Rwanda – The African Development Bank Group (AfDB) and the Rwanda Development Board (RDB) have announced the launch of the Sustainable and Inclusive Private Sector Development (SSISPD) project today.
This initiative, backed by an AfDB grant of USD 880,000 through the Fund for African Private Sector Assistance (FAPA), is a three-year project to empower Rwanda’s private sector. The RDB, in collaboration with the Private Sector Federation and the Small and Medium Enterprises (MSMEs) team, will oversee the project’s design and implementation, focusing on enhancing various public institutions’ in-house capabilities.
The project’s primary goal is to aid policy reforms that promote private sector-led growth and bolster the capacity of Rwanda’s private sector, particularly MSMEs. This includes creating quality jobs and adopting sustainable, environmentally friendly business practices.
Key actions of the project include
- conducting an investment policy review to improve private sector development policies and regulations,
- expanding the Business Development Advisors (BDA) Scheme, and
- enhancing MSMEs’ capacity to access local and global markets.
Furthermore, the project will enhance the skills of government institution staff in designing and executing effective, eco-friendly private-sector support programs and policies. It also aims to fortify public-private dialogue and collaboration through the Investment Policy Review process and specialized workshops.
AfDB Country Manager Aissa Touré emphasized the Bank’s commitment to assisting Rwanda in developing productive capacities to unlock private sector potential and boost competitiveness, aligning with Rwanda’s Country Strategy.
RDB Chief Executive Officer Francis Gatare remarked that the project aligns with the Rwandan government’s strategy to create a conducive environment for private sector-led growth, expecting to contribute significantly to the country’s sustainable development.
About the African Development Bank (AfDB):
Founded in 1964, the African Development Bank is a leading pan-African development institution. It comprises 81 member states, including 54 African countries, and focuses on promoting economic growth and social progress across the continent.
About Rwanda Development Board (RDB):
The RDB is a Rwandan government agency dedicated to transforming Rwanda into a vibrant business, investment, and innovation hub. It aims to expedite Rwanda’s economic development by fostering private sector growth.
Media Contacts:
African Development Bank (AfDB):
Moses Kazoora – m.kazoora@afdb.org, Tel: +250 788357575
Rwanda Development Board (RDB): communications@rdb.rw
For more tech news and insights, visit Rwanda Tech News, and explore similar topics and trends in the world of technology.
