Rwanda secures $190 million dual-currency loan to diversify debt

Rwanda has secured a dual-currency commercial loan facility totaling approximately $190 million, comprising €82 million and JPY 15 billion. This transaction marks the country’s first-ever yen-denominated issuance, a move intended to diversify borrowing sources and strengthen engagement with Asian capital markets.

The 15-year loan includes a six-year grace period to allow for deferred principal repayments. The facility is backed by multilateral guarantees from the World Bank Group, utilizing the Multilateral Investment Guarantee Agency (MIGA) and the International Development Association (IDA) to secure competitive financing terms and manage debt costs.

According to the Ministry of Finance and Economic Planning, the proceeds will support general budget financing under a World Bank development policy operation. The funds are earmarked for inclusive and resilient job creation, as well as investments in infrastructure, healthcare, education, agriculture, and industrial development.