BNR Seeks Frw10 billion From Bond Market

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Rwanda Central Bank

The Rwanda National Bank is seeking Frw10 billion over the next one week through the sale of a five-year bond.

Rwanda is seeking Frw10 billion over the next one week through the sale of a five-year bond. The funds will be used to support the budget and is part of the Government’s borrowing plan for this financial year.

Bids for the bond, whose coupon will be determined by the market, will be received from Aug. 21 to Aug. 23.

Rwanda has been issuing bonds as part of a plan to develop its tiny capital market and fund infrastructure projects. Rwanda wants to reduce its dependence on aid to finance its national budget.

Currently, 17 percent of Rwanda’s budget is financed by aid money. The bond will be listed on the Rwandan stock market on Aug. 29 for secondary trade. ($1 = 824.9700 Rwandan francs.

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