Wednesday, August 3, 2011

BRD Development Fund (BDF) in Rwanda

BRD stands for Rwanda Development Bank in French. It is a government-owned bank focusing on providing long term credits for development projects in Rwanda.

BRD had two subsidiaries, called BRD Development Fund (BDF) and BRD Advisory Services (BAS). BDF was managing several credit guarantee funds while BAS was providing professional advisory services for the investors, businesses and even MFIs.

[Minister of Trade, Francois Kanimba, addressing at the BDF Launch Ceremony]

BRD Board decided to merge BDF and BAS to create a new BDF. The merger took place in March of 2011 and it has since been developing its organizational structure to be on its own. Part of the organizational structure development efforts was forming its own board.

Its first board meeting took place on August 2nd, Tuesday, with its seven board members. I have been honored and privileged to chair the board.

I have a pretty demanding job of running the largest Christian micro finance bank in Rwanda with many projects and programs currently under development. But I have decided to serve the board mainly for two reasons:

1. I have 20 plus years of experience in US SBA guarantee program and I think I can bring some value to the board.

2. I am convinced that a well-run credit guarantee program, like BDF, can help a developing country like Rwanda to boost its economy and businesses to a higher level.

I committed to serving the board for only one year so may God help me in adding value to the board and to the Rwandan economy within the limited time. - Jeffrey

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