Dutch Government to support Rwanda's SMEs
The Dutch Government will offer funding to small to medium-sized enterprises in Rwanda, it has been announced.A five-year project called MESII will see more than €25 million distributed to five countries, including the African nation, to support the growth of such firms, the New Times reports.
It is hoped this will increase access to finance, as well as improve employment opportunities and business skills training.
Speaking to the publication, Senior Advisor at Dutch international organisation BiD Anneke Evers said: "SMEs are a backbone of any economy in the world; to stimulate economic growth we need to strengthen the SME sector."
Support will be provided to new enterprise projects through a business plan competition
which, it is thought,
will help to bolster economic growth.
This news comes after African central banks were recently advised at a finance meeting in Rwanda to increase levels of international borrowing, as this could boost their ability to offer development finance, the news source stated.