How Rwanda can meet credit needs

Editor, Rwanda should try hard to meet the credit needs of the SMEs in the country for a speedy economic growth of the nation.

Editor,

RE: “Easy access to credit earns Rwanda top WB ranking” (The New Times, November 2).

Rwanda should try hard to meet the credit needs of the SMEs in the country for a speedy economic growth of the nation.

The government may achieve this through the following ways:

Easy accessibility to credit through specialized or development oriented banking or financial institutions should be encouraged. This fund should be made available to the SMEs at reduced interest rate.

Establishment of a well funded National Credit Guarantee fund that will assist in getting credit facilities from the banks and other financial institutions. This will help reduce the excessive demand for collateral security.

And lastly, the development of clear national development objectives to meet the needs of the SMEs sector. That is, formal policies and regulations that guarantees achievement of anticipated results of SMEs.

Pato

 

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