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Burundi launches the Development and Investment Bank for Women

The bank is set to promote and support development projects undertaken by women gathered in associations or cooperatives.

The Women’s Investment and Development Bank (BIDF) officially incepted operations in the pollical city of Gitega on Thursday, March 3, 2022. The financial institution looks forward to empowering women through funding their various projects.

“The mission of this bank is to assist development projects implemented under the leadership of women organized in various small cooperatives or associations, said Marie Salomé Ndabahariye Director General of the bank during the opening ceremonies.

As for the shareholders, Ndabahariye said that the social capital stand at 10Billion BIF among which 15% belongs to the government and 85% will be collected from all communes.

The initiative comes after the government launched In March 2020, almost a year after, a bank owned by the youth aptly named BIJE (Banque d’investissement pour les Jeunes in French).

The bank strives to tackle youth unemployment, said officials in March while being inaugurated.

Also, it kicked start with a share capital of 10Billion BIF (15% of government’s share and 85% is owned by communes.

Speaking on the event the president of Burundi Evariste Ndayishimiye called then BIDF’s workforce to professionalize themselves as other financing entities.

For the President of the Republic, bank’s officials are expected to reach out to customers, to engage them and foster their trust.

The Head of State added that the managers and bank’s employees are believed to facilitate access to the applicants of the services, who will come to present their projects for financing.

UN System Resident Coordinator Damien Mama saluted the effort of the government to implement a bank reserved only for women and for her development via credits provided.

He added that with joint forces between women and men inclusive development can be achieved in. short time.

The Minister in charge of gender promotion indicated that the mission of BIDF consists of providing financial facilities and development of women’s economic capacities and effectively enhancing sustainable economic development in Burundi.

According to the Burundi National Bank (BRB) data, women take 12.1% of adult female clients in financial institutions in Burundi against 32.6% of me.

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