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

The Government of Rwanda, through the Development Bank of Rwanda and with financing from the World Bank, implemented the Rwanda Housing Finance Project (RHFP), known as Gira Iwawe, to expand access to affordable housing finance and support 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, helping to strengthen Rwanda’s housing finance framework before closing in October 2025.

However, 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. To guide the second phase (RHFP II), a detailed feasibility study will be undertaken to assess technical, financial, institutional, and policy options and to propose scalable supply- and demand-side interventions that can sustainably expand access to affordable housing

1. The consultant will provide, at least, the following outputs: Inception Report – detailing
   methodology, work plan, and stakeholder engagement strategy.
2. Technical Assessment Report: proposing housing development models, demand-side and supply-side interventions, including the diagnostic assessment for the housing development fund.
3. Financial and housing models Assessment Report: covering financial modelling, affordability analysis, and recommended financing structures for supply-side and demand side interventions as well as raising additional finance from the market. 
4. Policy and Institutional Reform Note: Identifying gaps and proposing reform roadmap, and institutional strengthening recommendations.
5. Pre-Investment Feasibility Report – consolidated technical and financial feasibility of proposed RHFPII interventions.
6. Final Consolidated Report: synthesizing all findings, final recommendations, and
   financial models in excel format. Kindly and carefully read the attached terms of reference for details.

Consulting firm may associate with other firms to enhance their qualifications but should indicate clearly whether the association is in the form of a joint venture and/or a sub-contractor. In the case of a joint venture, all the partners in the joint venture shall be jointly and severally liable for the entire contract, if your JV selected.

Interested Consultants firms are invited to download the full Terms of Reference and template to be downloaded from BRD website https://www.brd.rw/ under Publications from 1/03/2026. Further information can be submitted at the following email addresses: procurement@brd.rw during office hours (8:00 am to 6:00 pm, Kigalil time).

The expression of interest must be delivered in written form addressed to the Chief Executive Officer of
Development Bank of Rwanda on the following address: procurement@brd.rw and copying to the brd@brd.rw not later than 16/03/2026 at 6:00pm Kigali time (GMT +2).