Press release: BK, BRD, and BSEZ Ltd. seal financing partnership for Bugesera Special Economic Zone

Bugesera, Rwanda – August 4, 2025 –Bank of Kigali (BK) and the Development Bank of Rwanda (BRD) have signed a landmark financing agreement with Bugesera Special Economic Zone Ltd. (BSEZ Ltd.), a joint venture between the Government of Rwanda and ARISE Integrated Industrial Platforms (ARISE IIP), to accelerate the development of the Bugesera Special Economic Zone (BSEZ). This financing agreement represents a major step forward in Rwanda’s industrial transformation agenda under Vision 2050, the country’s long-term development framework aimed at achieving high standards of living for all Rwandans through sustained economic growth, social transformation, environmental sustainability, and good governance. Located just 10 kilometers from Bugesera International Airport and 50 kilometers from Kigali, BSEZ is strategically positioned to become a dynamic hub for light manufacturing, agro-processing, logistics, pharmaceuticals, and packaging. By mobilizing local capital to fund early-stage infrastructure development, including internal roads, utilities, and site readiness, BK and BRD are turning a long-term vision into tangible progress. A key highlight of this agreement is the inclusion of $10 million in green financing, offered at concessionary rates to support initiatives aligned with national sustainability and climate resilience objectives. BSEZ spans 335 hectares and is being developed in phases. Phase 1, covering approximately 75 hectares, is already operational and hosts a growing number of regional and international manufacturers across light industry, agro-processing, and logistics. It provides plug-and-play infrastructure, ready-to-use plots, and access to utilities, demonstrating the zone’s capacity to deliver on Rwanda’s industrial vision. The zone forms a cornerstone of Rwanda’s strategy to attract high-value investment, promote export competitiveness, encourage import substitution, foster local raw material transformation, and create sustainable jobs. Arnab Bose, Managing Director of BSEZ, stated: “Today marks a defining milestone as BSEZ achieves financial closure, reaffirming ARISE IIP’s commitment to Rwanda’s industrial future. With $52 million secured, $33 million from BK and $19 million from BRD, including $10 million in green financing. We are proud to partner with BK and BRD to catalyze inclusive, sustainable industrial development.” Dr. Diane Karusisi, CEO of Bank of Kigali, said: “The Bugesera Special Economic Zone is a bold step toward realizing Rwanda’s industrial vision. At BK, we are proud to be part of this transformative journey. Financing a project of this scale is not just a demonstration of our confidence in its potential, but a testament to Rwanda’s growing ability to shape its own development path. We are honored to help turn this vision into reality.” Kampeta Pitchette Sayinzoga, CEO of the Development Bank of Rwanda, added: “We are excited to be backing a project that ticks every box: it’s strategic, it’s sustainable, and it puts Rwanda’s people and potential front and centre. This is the kind of investment that moves the needle, not just for industrialization, but for inclusive and sustainable growth. We are proud to collaborate with BK and Bugesera SEZ Ltd. to deliver meaningful, long-term impact.” As part of its commitment to green finance, BRD continues to champion climate-resilient investments through initiatives like Ireme Invest, which ensures that large-scale infrastructure projects like BSEZ are developed with environmental sustainability at their core. By integrating climate considerations into its financing decisions, BRD is helping to ensure that Rwanda’s industrialization is not only inclusive but also aligned with the country’s long-term climate goals. About Bank of Kigali Founded in 1966, Bank of Kigali is Rwanda’s largest commercial bank, serving over 1 million customers through an extensive branch network and digital channels. The bank is committed to fostering economic growth by providing innovative financial services to individuals, SMEs, and corporations. BK continues to evolve as a trusted partner in Rwanda’s journey toward a brighter, more prosperous future. About the Development Bank of Rwanda (BRD) The Development Bank of Rwanda (BRD), established in 1967, has played a vital role in financing projects that advance national development, especially in manufacturing, infrastructure, agriculture, energy, affordable housing, green finance, and export growth. With a strong mandate to support Rwanda’s socio-economic transformation, BRD provides long-term, affordable, and tailored financing to sectors critical to national progress. It remains a key enabler of the National Strategy for Transformation and the Sustainable Development Goals (SDGs). About Bugesera Special Economic Zone (BSEZ) Bugesera Special Economic Zone (BSEZ) is Rwanda’s leading industrial hub. Formed in 2023 through a public-private partnership between the Government of Rwanda and ARISE IIP, BSEZ represents a $100 million investment. Strategically located 50 kilometers from Kigali and 10 kilometers from the new Bugesera International Airport, the 335-hectare zone offers serviced industrial land, world-class infrastructure, and direct access to regional and global markets. Designed as a fully integrated ecosystem, BSEZ promotes sustainable manufacturing, raw material transformation, and export-led growth, contributing directly to Rwanda’s ambition of becoming a competitive, green industrial economy.

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Press release: BK, BRD, and BSEZ Ltd. seal financing partnership for Bugesera Special Economic Zone