Grofin injects 400 m in school

Grofin-Rwanda, an international financial institution, yesterday handed three Mini-bus Coasters to Good foundation Nursery and Primary school as part of the Rwf400 million loan facility they have allocated the school. The financial package which is expected to be paid back in a period of six years was used in buying land, three brand new coasters to transport the pupils and construction facilitation of the new school structures. Eric Rwigamba, Grofin-Rwanda General Manager, pointed out that apart from the financial returns expected from this project, Grofin envisioned important and long lasting returns to the society if this school is supported, and it meets all its financial needs. “There are incredible social and developmental returns on supporting this ambitious school. We saw it prudent to support this nature of venture due to the fact that even generations to come will benefit,” Rwigamba said. The school started in 2005 with 25 entrants but now boasts of 700 pupils. After the completion of its new structures, it will accommodate more. When asked whether the school has the capacity to pay back the money in the agreed time, the Grofin boss revealed that an analysis was done before the loan was given. “We analyzed the capacity of this project and we found it viable and we are sure that it will pay back promptly,” he observed. Aurelia Mutoni, the school’s principal, thanked parents for trusting Good foundation school with their children and for giving her confidence to get the assistance. She also commended Grofin for the financial stimulus. “For the development of our school, we badly needed this money. There was no way we could have acquired it had it not been for Grofin, we are really grateful to them,” she said. Grofin gives financial assistance to small and medium enterprises that have viable business projects. Its disbursement ranges between Rwf30 and 580 Million. It has so far funded a wide range of projects in various sectors such as the hotel industry, health sector and general trading as well as financing start-ups. A total of 160 million US dollars is earmarked for 8 countries in Africa. Ends