ATIDI Approves USD84M Counter-Guarantee to Support Rwanda’s New International Airport Project
The African Trade and Investment Development Insurance (ATIDI) has approved a USD84 million counter-guarantee to support the financing of Rwanda’s New International Airport in Bugesera District. The strategic move aims to enable three local banks and one regional bank to issue bonds and guarantees exceeding USD322 million for the project.
The New Bugesera International Airport is a transformative infrastructure development jointly spearheaded by the Governments of Rwanda and Qatar. The project is seen as a key catalyst for Rwanda’s Vision 2050, which seeks to elevate the country to upper-middle-income status by 2035 and a high-income economy by 2050.
Scheduled for completion by mid-2028, the airport is valued at over USD2 billion and is also aligned with the African Continental Free Trade Area (AfCFTA), enhancing regional trade and mobility.
The transaction is being led by BPR Bank Rwanda Plc as Mandated Lead Arranger and Facility Agent on behalf of the contractors. Other participating banks include the Development Bank of Rwanda (BRD), Bank of Kigali (BK), and regional lender KCB Bank Kenya, the latter joining without recourse to ATIDI’s guarantee.
The financial backing allows local banks to exceed their Single Obligor Limits (SOL), thanks to ATIDI’s risk mitigation cover, which also offers them capital relief.
ATIDI CEO Manuel Moses described the deal as “a great privilege” and emphasized that the airport’s impact will go beyond aviation. “This new airport will unlock regional value chains and enable greater intra-African trade. ATIDI’s de-risking solutions are essential in unlocking financing aligned with Rwanda’s development priorities,” he stated.
Patience Mutesi, Managing Director of BPR Bank Rwanda Plc, welcomed the collaboration, saying the deal reflects the bank’s commitment to national development. “This project will redefine Rwanda’s connectivity and competitiveness. We are proud to play a leading role in this historic infrastructure milestone,” she said.
ATIDI currently holds a gross exposure of over USD611.9 million in Rwanda and has issued insurance policies covering over USD1.45 billion in transaction value across sectors such as agriculture, energy, communication, trade, public administration, and transport. This broad engagement highlights ATIDI’s essential role in de-risking projects and accelerating sustainable economic growth across Africa.
