The Government of Rwanda and the People’s Republic of China yesterday signed a financing agreement to help achieve the second Economic Development and Poverty Reduction Strategy (EDPRS 2).
The grant, worth $8million (about Rwf5.6 billion) will support government’s efforts towards development goals as enshrined in the EDPRS2, according to Finance minister, Claver Gatete.
“The funds are part of the Chinese annual grant support to the government and will be disbursed before the end of the year. This symbolises the cordial relationship between the two countries that has existed since 1971,” Gatete said during the signing ceremony in Kigali.
Rwanda’s cooperation with China has continued to grow considerably over the years with an estimated financial support of $5 billion in various sectors, including transport, energy, health, agriculture and education among many others, Gatete added.
Shen Yongxiang, the Chinese ambassador to Rwanda, reaffirmed his country’s commitment to supporting ongoing and new projects especially those in line with EDPRS2.
“It is in our best interest that we continue to support each other while creating more opportunities for trade and investments between the two countries,” Yongxiang said.
China supports a number of projects, including the construction of a 36-kilometre road, construction of both Kibungo and Ngoma hospitals and a rice processing factory in Rwamagana District.
The government is expected to spend about Rwf10 trillion to realise its development agenda by the end of 2020.
The idea is to drive the country towards attaining a middle income status, ensure an 11.5 per cent economic growth and reduce poverty levels to below 30 per cent.
Amb. Gatete said establishing an economic bridge while fostering economic diplomacy and sending a strong signal to investors across the globe will help make this ambitious plan a reality.