Rwanda Development Board (RDB) has allocated Rwf3.5 billion for tourism marketing activities as it seeks to recover the tourism and hospitality industry from Covid-19 impact in the next fiscal year.
She said that the sector has been severely hit by the Covid-19 pandemic which shook its revenue projections, and the revenue sharing programme which has over the years significantly empowered residents living in the vicinity of national parks.
"Tourism marketing after Covid-19 will mainly help ensure that people have trust again in visiting Rwanda.
The fund, she said, is under the management of the National Bank of Rwanda which will channel the money through commercial banks in the country for businesses, especially hotels, to access it.
"The financing will help largely in the loan restructuring because hotels' capacity to repay bank loans has reduced as a result of small clientele [compared to the period before the pandemic]," she said indicating that there will be a grace period of three years.
