KIGALI - The World Bank’s Board of Executive Directors has approved a US$115.6m from the International Development Association to assist Rwanda implement its Economic Development and Poverty Reduction Strategy (EDPRS).
The amount includes US$29.5m under the Crisis Response Window (CRW) of which US$14.3 is a loan to the government while US$15.2m is a grant.
The whole grant is part of the Bank’s budgetary support to Rwanda. The areas to be supported by the grant include; increasing the participation of the private sector in the development of the agricultural sector as well as enhancing rural road access by improving the condition of the district road network.
Another area is strengthening the framework of private sector’s participation in energy and water and sanitation sectors, and support reforms to raise agricultural production.
According to a statement from the Bank, the grant will also support growth of exports and creating jobs through enhancing the skills of the population.
“Strengthening economic governance and improving implementation capacity are essential for laying the foundations of a strong and sustainable economic growth,” the World Bank’s Senior Economist Kene Ezemenari, is quoted in the statement.
She added that the World Bank is proud of its partnership with the government of Rwanda which is leading to tangible improvements in the lives of ordinary Rwandans.
The Sixth Poverty Reduction Support Grant (PRSG VI) will continue to support priority areas identified in the previous PRSGs including agriculture, infrastructure and social sectors.
According to the statement, the funds have been disbursed as part of a series of the World Bank’s Poverty Reduction Strategy operations for Rwanda that was launched in 2002.