Kigali, Rwanda, March 2026: The East African Development Bank (EADB) and UN Rwanda have signed a Memorandum of Understanding (MOU) aimed at supporting Small and Medium Enterprises (SME’s), youth and women entrepreneurs in Rwanda. The partnership will see both institutions combine their strengths to accelerate SME growth in Rwanda.
Through this partnership the two institutions aim to create a conducive environment for the growth and sustainability of SME’s, which are vital for the development of the Rwanda economy. It will leverage the financial expertise of EADB alongside the technical expertise and convening power of UN to mobilize the necessary resources needed for SME’s.
EADB Ag. Director General Benard Mono and UN Rwanda Resident Coordinator Dr. Fatmata Lovetta Sesay signing the MOU between EABD and UN Rwanda.
In his remarks, EADB Ag. Director General Benard Mono shared, “By combining the UN’s strength in technical expertise, capacity building, and social development with EADB’s role as a development finance institution, we are working to expand access to tailored financing, strengthen entrepreneurial skills, and support innovation, especially among youth and women-led enterprises. It will also address challenges faced by SMEs such as access to finance and capacity building.”
The collaboration will focus on specific goals such as developing financial products tailored to the needs of SME’s and promoting joint initiatives to tackle financial challenges faced by SME’s, with emphasis on gender equality and youth empowerment.
“This partnership is expected to unlock critical financing and technical support that the UN, in collaboration with EADB and partners, can mobilize effectively. It will aim to address systemic barriers in access to finance, skills, and market linkages, especially for young women and vulnerable groups. Ultimately, this collaboration will contribute to job creation, strengthen SME growth and sustainability, and expand economic opportunities on a larger scale.” said Dr. Fatmata Lovetta Sesay, UN Rwanda Resident Coordinator during the MOU signing.
The partnership recognizes the critical role of SME’s as engines for economic growth and will work to accelerate SME development, promote youth entrepreneurship, and empower women led enterprises in Rwanda.
ENDS
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About EADB
The East African Development Bank (EADB) was established in 1967 under the treaty of the then East African Cooperation. Its mandate was to provide financial and related assistance to enterprises in the member States which, by their activities, were expected to make a positive contribution to socio-economic development in the region. The Bank was re-established under a new Charter in 1980. Under the Charter, the Bank's role and mandate were reviewed and its operational scope expanded to include a broad range of financial services in the Member States with an overriding objective of strengthening socio-economic development and regional integration. EADB is today owned by the four Member States of Kenya, Uganda, Tanzania and Rwanda as well as other development and commercial financial institutions. Being an organ of the EAC and its partnership with EAC institutions has accorded it a platform to play a catalytic role in regional integration through provision of development finance.
