KIGALI - After the revival of the Economic Community of Great Lakes Countries (CEPGL), efforts to resurrect the defunct Great Lakes Development Bank (BDGL) are in high gear.
The bank became dysfunctional in the early 1990’s at a period when the region was in turbulence. CEPGL brings together Rwanda, Burundi and the Democratic Republic of Congo (RDC).
The bank’s president, Silis Rwigamba Mu Binani paid a call on Prime Minister Bernard Makuza yesterday to discuss ways of reviving the institution.
“We want to resurrect the bank after a long time of not functioning. It is high time it resumed its role of financing various developmental projects in the region,” said Rwigamba.
He said that once everything is in place, the bank’s first priority will be to finance projects to increase electricity rollout in the region and construct roads shared by the three countries among other things.
Speaking to the media, the Prime Minister said that the bank is trying to get back on track since all the CEPGL member countries are committed to the bloc’s development.
“The bank was characterised by bad leadership where loans were given out aimlessly leading to its collapse in the early 90’s. But now we have to look at it within the context of the bloc and work towards it revival,” said Makuza.
He added that member countries should work towards integrating the bank in the bloc’s streamlined vision and make it functional again.