Parliament endorses $10m OPEC loan

Parliament on Monday approved government’s request of a $10m loan from the OPEC Fund for International Development to extend reliable and affordable electricity to areas of Kigali and the western Province. The protocol agreement was signed in Istanbul, Turkey last month between Rwanda and the OPEC’s Fund for International Development.
TO OVERSEE: Rwanda Electricity Corporation chief Yves Muyange
TO OVERSEE: Rwanda Electricity Corporation chief Yves Muyange

Parliament on Monday approved government’s request of a $10m loan from the OPEC Fund for International Development to extend reliable and affordable electricity to areas of Kigali and the western Province.

The protocol agreement was signed in Istanbul, Turkey last month between Rwanda and the OPEC’s Fund for International Development.

“Project will facilitate the increase of electricity access and reduction of cost on different services related to electricity consumption both in households and government entities,” reads a parliamentary release.

A document from OPEC indicates that the loan will provide support to Electrogaz to procure the required hardware, equipment and vehicles needed to improve maintenance services.

The government has set a five year period for its rural electrification program with the aim of increasing electricity accessibility from the current 6 percent to 16 percent by 2012.

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