Over 400 micro finance institutions commonly known as Umurenge
Sacco and 11,000 classrooms have been constructed, raising Rwanda's school enrollment above 95%.
Finally, through support to the expanded coverage phase of the country s Vision Umurenge
Program, it will promote a focus on the most poor and vulnerable population.
The microfinance sector is comprised of 490 Institutions of which 11 are limited companies and 479 SACCOs (including 416 UMURENGE
The National Social Protection System, known as the Vision 2020 Umurenge
Program, aims to eliminate poverty by 2020 through the delivery of public works employment, unconditional cash transfers for families in extreme poverty, and microloans.
The program, which began in 2009, known as Vision 2020 Umurenge
Program (VUP), provides low income families with direct cash for upkeep.
As an alternative, most farmers depend on community-based micro-finance institutions, such as Umurenge
SACCOs which do not give long term loans.
Within a period between 2001 and 2011, Rwanda has reduced poverty from 40% to 24% through implementation of several social security schemes, while the chief growth engine has been the Vision 2020 Umurenge
Program (VUP) under which more than 1 million people of Rwanda is protected.
The country has seen a drop in poverty from 40% to 24% in 2011, since 2001, which has been due to the various social protection programmes arranged but mainly the Vision 2020 Umurenge
Program (VUP) which covers more than one million people of Rwanda.
The remarkable success has been achieved via effective use of social protection programs such as Vision 2020 Umurenge
On the local stage the bond targets banks, investment groups, Umurenge
SACCOs, Micro-Finance Institutions, Cooperative Banks, Insurance companies, Pension Funds among others.
2 million, Umurenge
SACCO workers - Rwf1 million, workers of Health Centers - over Rwf8.
World Bank Country Manager for Rwanda, Carolyn Turk, also highlighted that the Bank's support to Rwanda's primary social safety net--the Vision 2020 Umurenge
Program (VUP)--has already helped the program to cover nearly half of the country's 416 geographical sectors in 2012, up from just 30 when it was launched in 2008.