Request for Expression of Interest (EOI) for Feasibility Study for the Second Rwanda Housing Finance Project

Assignment Overview

The Government of Rwanda, through the Development Bank of Rwanda and with financing from the World Bank, is seeking qualified consultants to conduct a comprehensive feasibility study for the Second Rwanda Housing Finance Project (RHFP II). This assignment will inform the design and implementation of the project's second phase.

Background

The Government of Rwanda successfully implemented the Rwanda Housing Finance Project (RHFP), known as Gira Iwawe, which expanded access to affordable housing finance and supported capital market development. The project addressed key structural constraints, including limited long-term mortgage financing for low- and middle-income households and the lack of domestic refinancing instruments. The project closed in October 2025 after strengthening Rwanda's housing finance framework.

Despite these achievements, significant housing gaps persist due to rapid population growth and a severe mismatch between demand and formal supply, particularly in the City of Kigali. High development costs, limited construction innovation, weak developer capacity, and affordability constraints continue to hinder progress. A detailed feasibility study is required to guide RHFP II by assessing technical, financial, institutional, and policy options and proposing scalable supply- and demand-side interventions that can sustainably expand access to affordable housing.

Project Objective

Provide a technical, financial, institutional, and policy feasibility study that informs the design of RHFP II interventions. The study will address both demand and supply-side challenges, facilitate private capital mobilization, and promote job creation.

Scope of Work

The consultant will undertake the following key activities:

• Identify supply and demand-side barriers and propose targeted interventions, building on RHFP lessons
• Evaluate financing solutions, including mortgage instruments, guarantees, rental and rent-to-own schemes, and capital-market mobilization (e.g., housing development funds, asset-backed securities)
• Assess the feasibility of medium to large-scale affordable housing development

Location

Kigali, Rwanda

Tender Information

Tender No: 4/3/2026/BRD/PC&CS/CS