Carnegie Consult conducted a thorough market assessment of the financial and SME sector in Rwanda. The market assessment included a review of the commercial banking sector and its lending activities to SMEs, as well as the financing need of SMEs including the resulting gaps in the market. On the basis of the results from the market assessment, different feasible financial instruments were developed to serve the financial needs of growing exporting SMEs. Carnegie Consult developed a facility strategy for a partner financial institution on-lending export finance instrument for SMEs (Tier 2 and Tier 3) linked to the Rwandan Development Bank (BRD). This included refinement of the terms and conditions of the facility, testing the capabilities of BRD and the commercial banks, and preparation of pilot phase for the facility. At the moment, we are supporting KfW and BRD in the implementation of the facility and embedding it within BRD.