The Rwanda Housing Bank (RHB) is now a department of the Rwanda Development Bank (RDB).
By dissolving the Housing Bank, the government intends to create a mortgage re-financing facility. This would ease lending to the people who wish to own houses.Other lenders like commercial banks would borrow from the facility to lend to customers who want to erect residential houses.
The merger raises RDB's assets to a whopping Rf72 billion
(US$120,105,693), putting it in a much stronger financial position.
The housing bank's assets amounted to Rf14 billion ($23,352,837).RDB is a public bank, which provides short and long-term financing to highly risky development projects in sectors the government has marked as high priority for development.
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