instruments geared towards the promotion of gender equality and women’s empowerment. 79. Women’s access to economic and productive assets, including land, thanks to progressive laws and policies. They include the new law Nº27/2016 of 08/07/2016 governing matrimonial regimes, donations and successions which provides for equal inheritance and property ownership rights between men and women and the Land Law of 2013. Under these laws, women and girls are now able to inherit land and property from their parents. Women are now able to use the land as collateral for securing loans from banks. This has greatly transformed women’s social economic well-being through wealth creation and enhanced their contribution to Rwanda’s economy, which has grown at an average real GDP rate of 8.2% annually from 2008 to 2012 46 as compared to -4.0%47 in 1999-2000. 80. A number of programs aimed at reducing poverty and economic inequalities between men and women have been initiated. They include a Women and Youth Access to Finance guarantee fund, currently operated by the Business Development Fund (BDF). This fund is aimed to facilitate women’s access to credit and other financial services, as well as training to improve their financial literacy. 25% is what is required of women as security while 75% is covered by the guarantee fund. Moreover, a grant equivalent to 15% of the total loan amount to start the investment activity is also accorded to women borrowers who develop start-up projects. This means that once the amount of the loan paid back by the borrower reaches 85%, the lender offsets the outstanding 15% loan amount with the 15% grant facility. 81. The use of the guarantee fund has enabled many women to gradually shift from economic dependence to self-reliance, although their number is still low compared to men. This guarantee fund is complemented by the creation of women-focused financial institutions such as the Women’s Branch of Rwanda Community Bank savings and micro- MINECOFIN, Economic Development and Poverty Reduction Strategy (EDPRS 2), 2013 The UN Inter-Agency working Group, Common Country Assessment Paper 1999-2000-Rwanda, Poverty reduction and management, 46 47 Page 90 of 105