The African Trade and Investment Development Insurance (ATIDI) has approved a $84 million counter-guarantee to facilitate the construction of Rwanda’s new Bugesera International Airport.
The issuance brings in a total of bonds and guarantees worth over $322 million, being managed by three Rwandan banks and one regional bank.
The lending consortium is led by BPR Bank Rwanda Plc, which acts as the Mandated Lead Arranger and Facility Agent.
Regional lender KCB Bank Kenya also joined the syndicate but participated without recourse to ATIDI’s cover, further demonstrating investor confidence in Rwanda’s infrastructure drive.
“This collaboration with ATIDI and our partner banks reflects our firm commitment to financing national development priorities,” said Patience Mutesi, Managing Director of BPR Bank Rwanda Plc.
Slated for completion in 2028, the new facility will boast a 130,000-square-meter main terminal building capable of accommodating 8 million passengers a year, a figure expected to rise to over 14 million in the following decades. Adjacent will be a dedicated cargo terminal, capable of accommodating 150,000 tons of cargo a year.
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The $2 billion airport is being developed jointly by the Governments of Rwanda and Qatar, part of President Pauk Kagame’s ambition to push the east African country to achieve upper-middle-income status by 2035 and high-income status by 2050.
It will also foster inter-Africa trade deals under the African Continental Free Trade Area (AfCFTA) framework for seamless trade, services, and mobility across the continent.
“The new airport is not just about infrastructure; it’s about unlocking regional value chains and ensuring Africa trades more with itself,” said ATIDI Chief Executive Officer Manuel Moses. “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.”
ATIDI’s guarantee has enabled three local banks—BPR Bank Rwanda Plc, Bank of Kigali (BK), and the Development Bank of Rwanda (BRD)—to issue guarantees that exceed their usual Single Obligor Limits (SOL).
What it means it that the risk mitigation among these lenders boosts their lending capacity and offers them capital relief, ensuring the smooth execution of this high-impact project.
The transaction aligns closely with ATIDI’s core mandate—to empower its member states by de-risking investments and enabling access to sustainable financing.
Rwanda, one of ATIDI’s founding members, has actively leveraged the institution’s guarantees to unlock capital for strategic projects.
Currently, ATIDI holds a gross exposure of over $611.9 million in Rwanda and has issued policies covering transactions valued at more than $1.45 billion. These span across critical sectors including agriculture, energy, financial services, construction, trade, and public administration.
