Rwanda has recently enjoyed strong economic growth rates, creating new business prospects and lifting people out of poverty. The Government of Rwanda is actively working to develop the economy and reform the financial and business sectors. Rwanda’s major foreign exchange earners include mining, tourism, coffee, and tea, and growth in these sectors will be critical for economic development and poverty reduction.
USAID provided support to the introduction of key reforms for improving the investment climate that will serve to attract investment and create new jobs and business opportunities for Rwandans. Rwanda’s business climate improved in 2010, increasing its rank from 139 to 67 in the annual World Bank Doing Business assessment. USAID also focuses on youth by increasing their employability and economic participation.
In 2010, Rwanda unveiled its first-ever national credit bureau, made possible by USAID’s support. The bureau improves access to credit by local business by allowing lenders to clearly assess the credit-worthiness of potential borrowers, as opposed to the previous practice of highly onerous collateral requirements that only a minority of businesses can meet. Greater credit availability and sounder loans stimulate business and job growth in a sustainable manner.
To promote eco-tourism, USAID works in Nyungwe National Park to improve management and services. These efforts are expected to increase the number of visitors to the park, conserve biodiversity and improve the livelihoods of Rwandans surrounding the park.
Last updated: May 10, 2013