Apply for funding in the second phase of the Economic Recovery Fund (Hatana)
Development Bank of Rwanda (BRD) and Business Development Fund (BDF) invite applicants for Hatana, the second phase of the Economic Recovery Fund. The Fund was launched on 18 May 2022 by the Government of Rwanda to support economic recovery for businesses affected by the COVID-19 pandemic through increased access to finance.
Through BRD, Hatana will provide much-needed funding to businesses that drive innovation, create employment opportunities, and prioritize Made in Rwanda in construction, agro-processing, textiles, and light manufacturing. The Fund is also expected to provide working capital loans to businesses that had at least a 20% reduction in sales for the past 12 months compared to pre-COVID-19.
The Fund will provide affordable financing through three windows:
- Investment (worth Rwf 150 billion)
This window will support businesses looking to expand or start a high-growth potential manufacturing business. Financing will be provided for fixed assets acquisition, operational expenditure related to building scale, and working capital.
- Working capital
This window is open to all sectors and will support your business in paying your employees and operating/fixed costs. It is meant to jumpstart production/operations after the economic slowdown caused by the pandemic.
- Refinancing (Rwf 37.5 billion)
This window will support the refinancing of existing loans in priority sectors determined by the Government of Rwanda via the Ministry of Finance and Economic Planning (MINECOFIN).
For more information on the fund, eligibility criteria, and application details, visit: Hatana (ERF2)