World Bank and IFC Vice President ends visit to Rwanda

KIGALI - Janamitra Devan, the new Vice President of Financial and Private Sector Development of the World Bank and IFC, has just completed a two-day visit to Rwanda. The objective of his visit was to strengthen further the good relationship between Rwanda and the World Bank Group and to confirm support to the country’s reform efforts in the financial and private sectors. 
Janamitra Devan
Janamitra Devan

KIGALI - Janamitra Devan, the new Vice President of Financial and Private Sector Development of the World Bank and IFC, has just completed a two-day visit to Rwanda.

The objective of his visit was to strengthen further the good relationship between Rwanda and the World Bank Group and to confirm support to the country’s reform efforts in the financial and private sectors.

Janamitra met with President Paul Kagame, the newly appointed Minister of Finance and Economic Planning, John Rwangombwa, Minister of Trade and Industry, Monique Nsanzabaganwa; and Vincent Karega, Minister of Infrastructure. Janamitra also MET with Francois Kanimba the Governor of the National Bank of Rwanda and key private sector representatives.

The Vice President commended Rwanda’s leadership and commitment to creating a favourable investment climate, which resulted in Rwanda’s top reformer ranking in the Doing Business 2010.

He stressed the need to continue systematically with the reforms and strengthen the public private dialogue at all levels going forward.

He also noted Government’s strategy to develop key economic clusters and confirmed the World Bank Group’s commitment to support the development and implementation of the strategy.

During his visit, Janamitra signed an agreement with Rwanda’s Central Bank to provide local currency loans to support growth of the country’s emerging private sector.

“Through this initiative, the National Bank of Rwanda and IFC will work together to further develop Rwanda’s financial markets to support private sector growth and promote sustainable economic growth” said Kanimba. IFC is the Private Sector Lending arm of the World Bank Group.

The World Bank Group is providing support to Rwanda’s financial and private sector development program through various projects and technical assistance including the Competitiveness & Enterprise Development Project (CEDP), Entrepreneurship Development Program, Rwanda Investment Climate Reform Project (RICRP) and the Rwanda Leasing Development Program (RLDP).

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