RDB (Rwanda Development Board) today commenced a three-day workshop in Kigali to train Rwanda’s insolvency practitioners, judges and other stakeholders including bankers and academics on the new insolvency law and matters around it.
The insolvency law is part of commercial laws which the World Bank considers in the annual evaluation exercise for ranking Rwanda in the ease of Doing Business global index.
The insolvency law is assessed together with its implementing institutions on how they facilitate doing business in the country. The evaluation takes into account the time, cost and outcome of insolvency proceedings while assessing how much secured creditors are able to recover through reorganization, liquidation or debt enforcement proceedings.
The training is meant to introduce the 88 trainees to the new insolvency regime and further build their capacities.
Speaking while opening the workshop, Richard Kayibanda, the Registrar General said:
“The Government has embarked on an ambitious program of Doing Business reforms to improve the investment climate in Rwanda. This includes, among others, reviewing the legal framework relating to commercial recovery and settling of issues arising from insolvency. The implementation of the insolvency law is heavily reliant on competent and skilled staff of its implementing institutions, insolvency practitioners, courts and other key stakeholders. They should be capable of providing the most efficient, timely and fair outcomes to those for whom an insolvency regime exists. We want to bridge the skills gap in the effective implementation of the insolvency regime in order to improve Rwanda’s 58th global ranking it scored in resolving insolvency in the 2019 Doing Business index.”