#Africa - In Other News #News

Germany, Rwanda sign €78M financing agreement

Finance Minister, Dr. Uzziel Ndagijimana, and the Germany Ambassador to Rwanda, Dr. Thomas Kurz, today signed two agreements worth €78M.

The financing and technical cooperation agreement is the outcome of the Inter-Governmental Negotiations that were concluded last Year between our two respective Governments.

€59M of the grant agreement will be provided through KFW Development Bank and will support various initiatives including technical and vocational training, promotion of export-oriented SMEs, through the support to Export Credit Facility in Rwanda under BRD, promotion of green investments as well as ICT support.

The remaining €19M will be channeled through GIZ and will support decentralization and good governance, prevention of sexual and gender based violence among others.

Speaking after the signing event, Minister Ndagijimana said the financial support extended to Rwanda will support key areas that are critical to the attainment of the country’s development objectives.

Also read: Germany commits €42.9M to support EAC

“This support comes at a critical juncture given the effects COVID-19 has had on our socio–economic advancement. We look forward to boosting these important areas that are in line with our National Strategy for Transformation. We thank Germany for the strong cooperation and solidarity especially during the COVID-19 pandemic,“ Minister Ndagijimana said.

Ambassador Kurz stressed: “These Agreements underline the long-standing and proven cooperation between our two countries based on friendship and mutual trust. Germany is committed to support Rwanda in its Economic Recovery Process and the implementation of NST 1 in order to reach the SDGs and to leave no one behind.”

The Division of Labor allows Germany development cooperation programme to be active in Education (including TVET); Decentralization and Good Governance, Private Sector Development and Youth; Public Financial Management (PFM); Financial Development. Germany also supports Regional Projects: Centre of Excellence for Health, Improvement of the Investment Climate, Microfinance sector-MIFSSA, ICGLR and Energy.

Source: Further Africa

Leave a comment

Your email address will not be published. Required fields are marked *