Rwanda has signed a €3 million loan agreement with the government of France to increase electrification in rural areas.
The deal was signed between Finance Minister John Rwangombwa and French Ambassador, Laurent Contini.
Rwangombwa hailed the deal, saying that it signifies the commencement of development activities between the two countries.
According to the minister, the loan will be paid in three years and the payment will be returned to Rwanda in form of a grant.
“The loan is simple. The issue is not the value of money, rather the beginning of many more development programmes,” Rwangombwa said.
The deal is signed at a time the government is devising ways of increasing rural electrification as a way of improving the livelihoods of the population.
Contini said that his government is targeting many development projects, including the methane gas exploitation.
“It is an innovative mechanism we are implementing in Rwanda and more will come as both countries cement relations,” Contini said.