Kigali, Rwanda – The Development Bank of Rwanda (BRD Plc) is proud to announce the third issuance of its Sustainability-Linked Bond (SLB), reinforcing its commitment to financing inclusive solutions that deliver both financial returns and development impact. The market for these bonds opened on March 9 and will close on April 2, 2026. Once the offer closes, the SLB will be listed and traded on the Rwanda Stock Exchange. ALSO READ: PRESS RELEASE: BRD launches second sustainability-linked bond Building on previous progress, the 10-year bond strengthens support for mainstreaming Environmental and Social Management Systems within the financial sector, increasing access to finance for women-led businesses and addresses the high market demand for affordable housing. This third SLB issuance aims to raise Rwf23 billion, with an option to increase the amount in the event of oversubscription. It is part of BRD’s broader Rwf150 billion Medium-Term Note (MTN) Programme, which aims to raise Rwf150 billion by 2028. The issuance follows a record of exceptional market performance. In 2023, BRD became the first National Development Bank globally to issue an SLB, which was 110 per cent oversubscribed and raised Rwf30 billion. The second issuance in 2024 achieved 130 per cent oversubscription, raising Rwf33 billion. To date, the programme has successfully raised over Rwf63 billion, allowing BRD to strategically diversify its funding through market-based sources. ALSO READ: Why BRD’s Rwf30bn inaugural bond is a big deal The SLB links funding with sustainability objectives, helping to broaden funding sources while reinforcing BRD’s commitment to achieving key performance indicators (KPIs) aligned with Rwanda’s sustainable economic development goals outlined in Vision 2050. The issuance also supports the growth of Rwanda’s capital markets and positions the country as a regional leader in sustainable finance. Investors are encouraged to participate in this unique opportunity from as low as Rwf100,000 that promises both financial returns, 12.7 per cent annual interest rate, and sustainable social outcomes. “This third SLB builds on the proven trust and sustainable impact of our previous bonds. These instruments offer investors financial returns while ensuring funded projects deliver measurable impact, effectively reducing investment risk.” said Stella Rusine Nteziryayo, CEO of BRD. The bond is available to both Rwandan and foreign individuals and institutions, aligning with BRD’s strategy to attract broader participation in Rwanda’s financial markets, and applications can be done online. The Prospectus and Pricing Supplement is available for download on BRD’s website, while hard copies may be requested or obtained free of charge at BRD’s offices. — About BRD Established in 1967, the Development Bank of Rwanda (BRD) is the country’s sole national development bank. BRD supports sustainable development by offering affordable, long-term, and tailored finance. Over the past 58 years, BRD has financed projects in key sectors such as infrastructure, agriculture, affordable housing, education, green finance, exports, and manufacturing. These investments are critical for achieving Rwanda’s national development agenda, aligned with the Second National Strategy for Transformation (NST2), Vision 2050, and the Sustainable Development Goals (SDGs). In 2024, BRD achieved an “AAA” rating on long term domestic credit with a stable outlook by the Global Credit Rating Co. (GCR), reflecting BRD’s financial stability, strong support from shareholders and pivotal role in advancing Rwanda’s development.
