In 2018, the World Bank funded and approved an initiative to create the Rwanda Housing Finance Project (RHFP). RHFP is managed by the Development Bank of Rwanda and the Rwanda Housing Authority, aiming to extend a line of credit to financial institutions so they can expand housing finance and provide technical assistance and implementation support that will improve the demand side. Because there is such a focus on financial institutions, a Rwanda Mortgage Refinancing Company (RMRC) as a liquidity facility will also be established.
Though RHFP is aiming to expand housing finance, a key obstacle to its success has been the limited supply of affordable housing. However, RHFP has been an important opportunity for a variety of institutions to come together and work toward the goals of Vision 2050, including universal access to affordable and decent housing.
Source:
Chiwetu, D. (2021) Rwanda’s affordable housing sector: overview of the institutions, policies and legislation that shape the sector. Centre for Affordable Housing Finance in Africa.