Increased lending signifies a robust economy

Editor, Some time ago, Government set up a Credit Reference Bureau to enable banks and other funding agencies to establish the credit worthiness of potential borrowers. With these credit controls now in place, increased bank lending definitely indicates a robust economy wherein both individuals and organisations are economically better placed to borrow money and more importantly, also have the capacity to pay back. While loans have sharply gone up, there has also been a healthy increase of 36.4 percent in deposits sending a clear signal that the new Rwanda is now open and ready for business both from within and internationally. The pivotal role played by the Rwanda Development Board (RDB) in this whole process should be applauded. Right from registering a business in a record time of 24 hours, to providing immigration assistance at RDB’s one stop center at their headquarters, the entire machinery at RDB is geared towards providing hassle free services to both local and international businesses. This makes doing business in Rwanda a real pleasure. Clarence FernandesChairmanRwandas Renaissance andCo-ChairmanTravel & Tourism CommitteeIndian Merchants’ Chamber clavinmarketing@gmail.com

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Increased lending signifies a robust economy