Rwanda Central Bank (BNR) has revealed that it will issue out a five-year Treasury bond worth 10 billion francs ($12.12 million) this August to fund infrastructure projects, IGIHE has learnt.
BNR said the bids for the bond, whose coupon will be determined by the market, will be received from Aug. 21 to Aug. 23 and will be on the Rwandan stock market on Aug. 29 for secondary trade. ($1 = 824.9700 Rwandan francs).
Rwanda has been issuing bonds as part of a blueprint to develop its capital market and to fund infrastructure projects.
The bank wants to reduce its dependence on aid to finance its national budget.