At least 300 projects that excelled in a nationwide campaign to promote an entrepreneurship culture will receive government backing to acquire loans from financial institutions.Dubbed Hanga umurimo, the campaign that was launched, late last year, by the Ministry of Trade and Industry, aims at scouting for at least 10 projects in each of the 30 districts with an emphasis on those that could provide more jobs.The selection, which is made by a team of experts from leading financial institutions, at the district level will end tomorrow Besides facilitating them to acquire loans by acting as a guarantor, the government will continue to assist the successful projects with technical assistance, through the Business Development Fund.The campaign is part of government’s efforts to boost the number of Small and Medium Enterprises (SMEs) to at least 270,000 annually.Speaking to the media on Monday, Trade and Industry Minister, Francois Kanimba, said the programme will support people to start up businesses, become self employed and create jobs for others as a way of steering the country’s economic development. “This programme also received the backing of the recent government retreat and was regarded as one of the catalysts for national economic development,” said Kanimba.The retreat was held in Bugesera District last month. According to Kanimba, most of the project presentations are good and persuasive for financial backing.“Most of the projects are promising and this reflects how Rwandans are yearning for job creation,” he noted, adding that government would also closely monitor the runners-up for technical assistance.On what should be done to foster several other business projects developed by those that may not qualify for support this year, Kanimba said the programme would be ongoing.“This programme will not end here, it will continue as we urge the rest to approach the Business Development Fund as another alternative. Banks showed a will to support more business plans,” Kanimba observed. “There is also an ongoing preparation to set a budget to support the programme by the government and many other donors are willing to step in to boost the programme”. It is reported that many institutions of learning churn out new graduates, with no substantial increase in the number of jobs, which has led government to stress on hands-on training through Technical and Vocational Education and Training.
