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Rwanda to sell 3-year Treasury bond for 15 bln francs

Rwanda will sell a three-year Treasury bond worth 15 billion francs ($18.47 million) this month, the central bank said on Yesterday.

Funds raised through the bond, which will be on sale Nov. 21-Nov.23, will be used to fund infrastructure projects, the central bank added. Trading of the bond will begin on the bourse on Nov. 28.

Rwanda has been issuing bonds as part of a plan to develop its tiny capital market and fund infrastructure projects. The land-locked nation of 11 million people, is trying to cut its dependence on donors to finance its national budget.


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