Microfinance institutions, coops in access to credit deal

The Association of Microfinance Institutions in Rwanda (AMIR) and National Cooperatives Confederation of Rwanda (NCCR) have signed a Memorandum of Understanding aimed at facilitating capacity building and access to loans, among other things. The deal was signed on Friday at Rwanda Institute of Cooperatives, Entrepreneurship and Microfinance Office in Kabusunzu, Nyarugenge District by Jean Marie Vianey Nzagahimana, the chairman of AMIR, Damien Mugabo, director general of Rwanda Cooperatives Association (RCA) and Augustin Katabarwa, the chairman of NCCR. Speaking at the event, Mugabo, said the agreement would facilitate joint efforts in addressing challenges within cooperatives. “The partnership will help cooperatives to improve members’ welfare by easing access to business loans which has not been easy. Working together will make things easier. When you want to be fast you run alone but when you want to go far you walk together,” Mugabo said. Nzagahimana, said the partnership would enhance service provision within both institutions. “Micro finances and cooperatives play similar roles and this partnership will bridge existing gaps within our service provision. AMIR will train members of cooperatives on various issues especially those engaged in Agricultural sector. The majority of cooperatives in Rwanda are agriculture based,” he said. “Training those cooperatives will help boost production and enhance country’s economic development. We used to limit the amount of loans to cooperatives but this partnership will streamline things.” Katabarwa, the chairman of NCCR said joining efforts was necessary. “Micro finances and cooperatives both work for development. The partnership will help us to address challenges within cooperatives which we would not solve ourselves. It’s a mutually beneficial partnership for sustainable development of the country,” Katabarwa said. editorial@newtimes.co.rw

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Microfinance institutions, coops in access to credit deal