The development Bank of Rwanda (BRD) has pledged more support to the education sector to fund skills development and projects that accelerate sustainable growth.

"We are currently focusing on the education sector because we believe it’s the foundation of the country’s development. We will, therefore, continue to improve our commitment, especially targeting programmes like capacity building and knowledge and skills development,” Alex Kanyankole, the BRD chief executive officer, told The New Times on Wednesday.

Kanyankole and other BRD officials were on Wednesday touring infrastructure projects that are being funded by the bank at various schools in Kigali, including Kigali Parents School, Mother Mary, Harvest primary schools and Apec Secondary School in Kanombe.

Other six schools, including Technical Vocational Education and Training (TVET) in Kirehe and Nyagatare districts, have so far also benefited from BRD support.

Kanyankole said the bank will also increase funding to the agriculture, energy and export sectors "because of they contribute significantly to job-creation and economic development”.

He added that the bank supports the real estate industry to ensure Rwandans access affordable homes.

Charles Mutazihana, the principal of Kigali Parents School, one of the beneficiaries, reiterated the need for banks to support the private sector to promote inclusive economic growth.

"The private sector should be supported by banks to grow and become sustainable, besides creating jobs for the youth and improving household incomes,” Mutazihana said.

Kanyankole said apart from capacity building programmes, BRD funds school infrastructure projects geared toward promoting education.

Student loans

The bank recently pledged to address issues that affect the recovery of student loans.

"Beneficiaries need to understand that this is not a grant, but a loan that they will have to pay back. We are presently working with the Ministry of Education on the modalities of the loan scheme before implementation by September,” Kanyankole said in a recent interview.

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