The African Trade & Investment Development Insurance (ATIDI) has approved a $84 million counter-guarantee to help three Rwandan banks and one regional lender issue bonds and guarantees exceeding $322 million. The funds are backing construction of the New Bugesera International Airport — a major infrastructure project that Rwanda hopes will turn it into a regional hub for logistics and trade.
The project is a joint effort between the governments of Rwanda and Qatar. Officials say it is central to Rwanda’s Vision 2050, a national strategy aimed at becoming an upper-middle-income country by 2035, and a high-income economy by 2050. It’s also aligned with the African Continental Free Trade Area (AfCFTA), which seeks to boost intra-African trade.
The airport — estimated to cost more than $2 billion — is expected to be completed by mid-2028.
The three Rwandan banks receiving ATIDI’s support are BPR Bank Rwanda Plc, Bank of Kigali (BK), and the Development Bank of Rwanda (BRD). The guarantee helps the banks issue financing beyond their Single Obligor Limits — essentially expanding their lending capacity without taking on additional risk.
“This kind of de-risking provides capital relief and makes complex infrastructure projects more viable,” ATIDI said.
The financing is being led by BPR Bank Rwanda Plc, which is acting as the Mandated Lead Arranger and Facility Agent. KCB Bank Kenya, a regional lender, also joined the syndicate but without using ATIDI’s guarantee.
ATIDI’s Chief Executive Officer, Manuel Moses, said the organization was proud to support what he called a catalytic investment.
“The new airport is not just about infrastructure; it’s about unlocking regional value chains and ensuring Africa trades more with itself,” he said.
“Our support demonstrates the value addition of ATIDI’s de-risking solutions in scaling up lending capacity and unlocking financing by banks to Rwanda’s development priorities.”
Patience Mutesi, Managing Director of BPR Bank Rwanda Plc, echoed that sentiment.
“We are honored to lead this transformational financing effort,” she said.
“This collaboration with ATIDI and our partner banks reflects our firm commitment to financing national development priorities and enabling long-term value through strategic infrastructure.”
Rwanda is one of ATIDI’s founding members and has worked closely with the institution to access risk mitigation tools in recent years. So far, ATIDI has issued policies covering over $1.45 billion in Rwanda, with a gross exposure exceeding $611.9 million.
Its involvement spans a wide range of sectors, including agriculture, energy, finance, public administration, trade, and transport — showing the breadth of its role in helping African governments and companies manage risk while pursuing development.
