BK, BRD Inject $52M into Bugesera Industrial Park

Dr. Diane Karusisi, CEO of Bank of Kigali, Arnab Bose, Managing Director of BSEZ and Kampeta Pitchette Sayinzoga, CEO of BRD, signing the agreement on Monday

Bugesera, Rwanda — Rwanda’s two biggest banks — Bank of Kigali (BK) and the Development Bank of Rwanda (BRD) — have committed a combined $52 million to fast-track the development of the Bugesera Special Economic Zone (BSEZ), marking a major step forward in the country’s industrial transformation under Vision 2050.

The landmark financing agreement, signed with Bugesera Special Economic Zone Ltd. (BSEZ Ltd.), a joint venture between the Government of Rwanda and ARISE Integrated Industrial Platforms (ARISE IIP), will support the development of core infrastructure within the 335-hectare industrial zone.

Located just 10 kilometers from Bugesera International Airport and 50 kilometers from Kigali, BSEZ is designed to become a dynamic hub for light manufacturing, agro-processing, pharmaceuticals, logistics, and packaging — all aligned with Rwanda’s goals to increase exports, support import substitution, and create sustainable jobs.

$10 Million for Green Financing

Of the $52 million total, $33 million will come from BK, while BRD is contributing $19 million, including $10 million in green financing at concessionary rates.

The green component will specifically support environmentally sustainable projects and climate-resilient infrastructure, in line with national climate objectives and BRD’s ongoing Ireme Invest initiative.

The funding will support early-stage infrastructure works, such as internal roads, utilities, and site readiness — key to attracting manufacturers and investors.

Phase 1 of the zone, covering 75 hectares, is already operational and hosts a number of regional and international firms. It features ready-to-use industrial plots and plug-and-play infrastructure.

Arnab Bose, Managing Director of BSEZ, hailed the agreement as a “defining milestone” and proof of ARISE IIP’s commitment to Rwanda’s industrial future.

“We are proud to partner with BK and BRD to catalyze inclusive, sustainable industrial development,” he said.

Dr. Diane Karusisi, CEO of Bank of Kigali, said the deal demonstrates BK’s confidence in Rwanda’s ability to shape its own development trajectory: “Financing a project of this scale is a bold step, and we are honored to help turn this vision into reality.”

Kampeta Pitchette Sayinzoga, CEO of BRD, emphasized that the project checks all the right boxes: “It’s strategic, it’s sustainable, and it puts Rwanda’s people and potential front and centre. This is the kind of investment that moves the needle for inclusive and sustainable growth.”

A Strategic Industrial Node

Launched in 2023 as a public-private partnership, the $100 million BSEZ aims to be Rwanda’s leading industrial hub.

It offers world-class serviced land, access to regional markets, and infrastructure suited for value-added manufacturing.

As part of Rwanda’s National Strategy for Transformation, BSEZ plays a key role in transforming the economy from subsistence to high-value production.

About the Partners

• Bank of Kigali (BK), Rwanda’s largest commercial bank, serves over 1 million customers and has consistently backed national development priorities.
• BRD, Rwanda’s dedicated development finance institution, supports sectors such as manufacturing, agriculture, housing, and green energy through long-term affordable financing.
• BSEZ Ltd. is a joint venture company between the Government of Rwanda and ARISE IIP, tasked with developing and managing the Bugesera Special Economic Zone.

As development accelerates, the Bugesera SEZ is set to become a model for green, inclusive industrialization, unlocking Rwanda’s potential to become a regional export powerhouse.