Private Sector Federation (PSF) has signed a finance agreement with the World Bank through Competitiveness and Enterprise Development Project (CEDP) worth $200,000 (about Frw109.7 million).

The grant is to finance the preparations of the fourth round (2008-2009) of Business Plan Competition (BPC) programme. Under this programme best business plans and proposals presented by entrepreneurs are funded.

The development comes after another CEDP support worth $300,000 (Frw162.5m) to PSF’s four-year private sector capacity building project is being funded.

Prisca Mujawayezu, deputy secretary general, PSF and Antoine Juru Munyakazi, CEDP coordinator, signed on behalf of their institutions.

Antoine Manzi said CEDP facilitates the development of the entrepreneurial sectors through a competitive process to access finance and technical support.

"We shall fund study tours and training as stipulated in the BPC action plan," he revealed.

In the first term of 2004, at least 10 project proposals were awarded, and 20 in the second phase.

"Therefore considering the variety of its benefits, we are targeting to award 50 small and medium entrepreneurs (SMEs) from all sector this year and 200 in the next few years-since they constitute the biggest percentage of businesses," Manzi said.

He said further support was pledged by the World Bank through CEDP. And that CEDP is planning to consider supporting more women development projects.

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