Govt gets $10 million for road rehabilitation

THE government has received $10m (about Frw5 billion) from Arab Bank for Economic Development in Africa (BADEA).

THE government has received $10m (about Frw5 billion) from Arab Bank for Economic Development in Africa (BADEA).

The money is to finance the rehabilitation of Gitarama-Mukamiara road.

 Finance minister James Musoni who signed the loan agreement on behalf of government said the money will be repaid in the period of 30 years at an interest rate of 1 per cent per year.

While BADEA chairman Ahmed  Abdullah El Akeil signed on behalf of the Arab Bank for Economic Development in Africa (BADEA).

The minister said BADEA has also assisted the government of Rwanda in the development of the energy and water sectors in the country.

“Including this new loan, the total commitments of (BADEA) to the government of Rwanda will amount to $ 82m,” the minister said.

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