Rwandan govt agrees funding for roads project
31 July 2012
The Rwandan government has announced that it has struck a deal with the African Development Bank which will see major improvements made to the country’s transport network, Rwanda Focus reports.
Under the agreement reached by the two parties, the Bank is to loan as much as $68 million to build part of the Kivu Belt, which will help to link west Rwanda to other parts of the country.
It has been confirmed that the loan agreement is interest-free and the money is due to be paid back over the next forty 40 years.
“I would like to commend the Government of Rwanda for its continued effective use of development resources," commented Negatu Makonnen, the resident representative of the Bank.
"This will no doubt contribute to the improvement of the living conditions of the people in the project area."
Such projects are key to sustained economic growth in countries like Rwanda, which is currently held back by its lack of infrastructure.