Rwanda to issue $20 mln local currency bond to develop infrastructure

0

Rwanda will sell a five-year Treasury bond worth 15 billion francs ($20.24 million) this month, the central bank said on its website.

The bank said the bond will have a market-determined fixed coupon and its proceeds will be used for infrastructure projects. It will receive bids between Feb. 22 and Feb 24.

Advertisement

Rwanda has been issuing bonds as part of a plan to develop its tiny capital market as well as fund infrastructure projects in the land-locked nation of 11 million people, which strives to reduce aid dependence to finance its national budget.

Advertisement