Rwanda Secures $190mn in Yen Facility, Diversifying Sovereign Borrowing

Rwanda has successfully raised $190mn through a commercial sovereign loan backed by the World Bank Group. The facility comprises €82mn and ¥15bn, with a 15-year maturity and six-year grace period.

The yen tranche is Rwanda's first borrowing in Japanese currency, allowing access to Asian capital and reducing reliance on traditional funding currencies. Société Générale and Standard Chartered Bank provided the financing.

The facility uses guarantees from the World Bank Group Guarantee Platform, which provides first-loss coverage through an International Development Association policy-based guarantee and second-loss protection through a Multilateral Investment Guarantee Agency policy.