Depot Ciment is a shopping center located in Kicukiro, Rwanda [1].

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The shopping center operates from Monday to Friday, between 8:00 AM and 5:00 PM, and is closed on Saturdays and Sundays [1]. Its physical address is listed as Vers Hospital Militaire Kanombe, Gasabo, Rwanda [1].

The Rwandan economy, like many others globally, has faced significant challenges, including those posed by the COVID-19 pandemic [2]. In response, the Government of Rwanda (GoR) established an Economic Recovery Fund (ERF) in April 2020 to support affected businesses, help them resume operations, and safeguard employment [2]. The World Bank has also supported Rwanda through the Access to Finance for Recovery and Resilience Project (AFIRR), aiming to increase access to capital for businesses by addressing market shortcomings such as a lack of liquidity and the need for long-term financing [2].

The AFIRR project, with its parent project (P175273) and additional financing (P179999), focuses on several components:

  • Component 1: Liquidity and recovery facility, which provides lines of credit to Financial Institutions (FIs) for on-lending to microbusinesses, for refinancing existing loans, and for working capital and investment [2].
  • Component 2: Risk-sharing facility, designed to enhance and expand existing risk-sharing solutions like partial credit guarantees and bridge lending windows for vulnerable SMEs [2].
  • Component 3: Institutional Strengthening and Implementation Support, which focuses on technical assistance for project beneficiaries and implementing agencies, as well as project management and monitoring [2].
  • Component 4: Contingency Emergency Response, which can be activated in case of a relevant emergency event [2].

The project's environmental and social risks are classified as substantial, particularly concerning the liquidity and implementing facility, which targets large companies and SMEs in sectors such as agro-processing, construction materials, and light manufacturing [2]. The project emphasizes compliance with national laws and World Bank Environmental and Social Standards (ESSs), including ESS1 (Assessment and Management of Environmental and Social Risks and Impacts), ESS2 (Labour and Working Conditions), ESS3 (Resource Efficiency and Pollution Prevention and Management), ESS4 (Community Health and Safety), ESS6 (Biodiversity Conservation and Sustainable Management of Living Natural Resources), ESS8 (Cultural Heritage), ESS9 (Financial Intermediaries), and ESS10 (Stakeholder Engagement and Information Disclosure) [2].

Capacity building is a crucial aspect of the project, ensuring that implementing agencies and financial institutions are equipped to manage environmental and social risks effectively [2]. The project also includes a Grievance Redress Mechanism (GRM) to address concerns from employees, sub-borrowers, and affected parties [2].


World's Most Authoritative Sources

  1. Depot ciment. Depot ciment
  2. REPUBLIC OF RWANDA MINISTRY OF FINANCE AND ECONOMIC PLANNING. Access to Finance for Recovery and Resilience Project

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