KARONGI – Local farmers and businessmen in Karongi and Rutsiro districts who have initiated profit-making projects are set to benefit from funding from the Rwanda Development Bank (BRD).

During an advocacy meeting yesterday, Albert Twagirimana, BRD’s branch manager in Karongi district, explained that the bank targets local residents in order to uplift their economic status.

The 42- year old bank has so far not set any limit on the funding.

"We are encouraging people to study and submit viable projects for funding by our bank. The money will be given in the form of a loan which will be paid back at low interest rates within a period of up to 10 years,” Twagirimana said.

The western region has been seen as a potential area for tourism, extensive coffee farming, fruit and cassava production.

Vedaste Ngarambe, whose tourist attraction site at the shores of Lake Kivu is a potential beneficiary of the funding, commended the RBD offer as timely.

"This deal will definitely help us to continue with our businesses and yield the expected benefits,” Ngarambe, who has so far, invested over Rfw100m into his project, said.

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