PM Nsengiyumva, IFC Vice President discuss ways to boost private sector investment

Prime Minister Justin Nsengiyumva on Thursday, March 12, met with the Vice President for Africa at the International Finance Corporation (IFC) Ethiopis Tafara who is visiting Rwanda to strengthen collaboration on private sector investment and explore new development opportunities. According to the Office of the Prime Minister, the discussions focused on IFC's portfolio in Rwanda and the ongoing consultations on the World Bank Group Country Partnership Framework (2026-2035) with Rwanda. The partnership framework, which covers the period from July 2026 to June 2035, seeks to support Rwanda’s development efforts, particularly the second National Strategy for Transformation and Vision 2050. Tafara is visiting Rwanda from March 12 to 13, marking his first trip to the country since being appointed IFC Vice President for Africa. ALSO READ: IFC, Rwanda sign five deals to support private sector Accompanied by senior members of the World Bank Group’s Africa leadership team, he is engaging with government officials and private sector partners to identify practical solutions to challenges affecting the business environment. Later the same day, Tafara met the CEO of Rwanda Development Board (RDB) Jean-Guy Afrika where discussions centred on promoting private sector-led growth and building a stronger pipeline of investments capable of attracting more private capital. He is also scheduled to meet the Minister of Finance and Economic Planning, Yusuf Murangwa, alongside other government officials and business leaders. ALSO READ: Our investment commitments now exceed $11bn – IFC’s Pimenta Over the last five years, IFC has committed more than $330 million (approximately Rwf481 billion) in long-term financing to projects in Rwanda. About 60 per cent of this financing came from IFC’s own account, with the remainder mobilised from third-party investors. Its investments and advisory work in Rwanda have focused on infrastructure development, expanding financial inclusion, and improving the performance of state-owned enterprises. As the largest global development institution focused on the private sector in emerging markets, IFC operates in more than 100 countries. In the 2025 fiscal year, it committed a record $71.7 billion to private companies and financial institutions in developing economies.

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PM Nsengiyumva, IFC Vice President discuss ways to boost private sector investment