Rwanda - Second Banque Rwandaise de Developpement (BRD) Project

Document of The World Bank FOR OFFICIAL USE ONLY Report No. P-2398-RW REPORT AND RECOMMENDATION OF THE PRESIDENT TO THE EXECUTIVE DIRECTORS ON A PROPOSED DEVELOPMENT CREDIT TO THE REPUBLIC OF RWANDA FOR A SECOND DEVELOPMENT BANK (BRD) PROJECT April 11, 1979 This document has a restricted ditrbution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed witbout World Bank authorization.  CURRENCY EQUIVALENTS Calendar Year 1978 Unit = Rwanda Franc (RwF) US$1 = RwF 91.91 RwF 100 = US$1.09 RwF 1.0 million = US$10,9 FISCAL YEAR January 1 - December 31 ABBREVIATIONS BNR - Banque Nationale du Rwanda - Central Bank BRD - Banque Rwandaise de Developpement DEG - Deutsche Entwicklungsgesellschaft CCCE - Caisse Centrale de Cooperation Economique KfW - Kreditanstalt fur Wiederaufbau UNITS Metric System  FOR OFFICIAL USE ONLY RWANDA - SECOND DEVELOPMENT BANK PROJECT CREDIT AND PROJECT SUMMARY Borrower: Republic of Rwanda Beneficiaries: Rwanda Development Bank (BRD) and Republic of Rwanda. Amount: US$5.2 million equivalent. Terms: Standard Relending Terms: The Government would onlend US$5 million of the proceeds of the credit to BRD at an interest rate of 6 percent per annum. The amortization schedule would conform with the aggregate of the amortization schedules of BRD's sub- loans and equity investments. The foreign exchange risk would be borne by the Government. BRD would relend the proceeds of the credit to its sub-borrowers at an in- t^rest r-- f