EGF launches competition to boost export-oriented businesses in Rwanda

On 15 July 2023 at 08:09

The Export Growth Fund (EGF) has announced the launch of an eagerly awaited competition aimed at promoting and supporting the growth of export-oriented businesses in Rwanda.

This competition, managed by the Development Bank of Rwanda (BRD) in partnership with the Ministry of Trade and Industry (MINICOM), seeks to address the common challenges faced by exporters and enhance Rwanda’s presence in the global market.

Established by the Government of Rwanda in 2015, the Export Growth Fund (EGF) has been instrumental in facilitating export activities by tackling obstacles such as limited access to finance, high production costs, and barriers to international markets. This competition is a testament to the continuous efforts to boost the competitiveness of local businesses and encourage their active participation in the global economy.

The competition is open to a wide range of participants, including exporters, export-focused investors, startups operating in pilot sectors with an export-oriented purpose, all sectors actively involved in export activities, new borrowers, and young entrepreneurs engaged in business lines that promote industrialization for exports and reduce imports.

The Export Growth Fund (EGF) offers several windows, each tailored to cater to the specific needs of participants. These windows provide unique benefits to support export-related initiatives and contribute to the growth of Rwanda’s export sector.


The Investment Catalyst Facility is aimed at encouraging private sector investment in export-oriented production. Winners of this competition will receive a promotional interest subsidy of 10% and can access financing of up to Rwf1.5 billion.

The Matching Grant Facility aims to assist firms entering the export market by reducing costs associated with adjusting to standards and technical requirements in target markets. Eligible exporters participating in this competition can receive a grant of up to Rwf100 million, covering 100% of the total project costs.

The Credit Insurance Guarantee Facility provides transaction-related guarantees to commercial banks, securing export finance transactions up to 80% of their value. This facility supports exporters by offering credit guarantees for pre-shipment and post-shipment finance, covering 80% of the required working capital.

The Industrial Start-Up Facility encourages private sector investments in start-up projects that recapture domestic markets and promote export-related activities. Borrowers establishing new export-oriented businesses or those with direct import substitution effects can access loans with an interest subsidy of 6.5%. Winners of this facility will receive a promotional interest subsidy of 10% and can avail themselves of a maximum financing amount of Frw 1.5 billion per project.

Interested participants can submit their applications for the competition from July 17th to September 17th through the EGF website at https://egf.brd.rw/. Detailed information regarding eligibility criteria and application procedures can be found on the website of the Development Bank of Rwanda (BRD) at www.brd.rw.