Gov’t, Kuwait sign Rwf8bn deal

KIGALI - The government of Rwanda has signed a Rwf 8.1 billion loan agreement with the Kuwait Fund for Arab Economic Development. The loan will support the expansion and development of the Integrated Polytechnic Regional Centre project in Kicukiro, an institution that provides technical education.

KIGALI - The government of Rwanda has signed a Rwf 8.1 billion loan agreement with the Kuwait Fund for Arab Economic Development.

The loan will support the expansion and development of the Integrated Polytechnic Regional Centre project in Kicukiro, an institution that provides technical education.

“This loan is very important for developing our education sector which is in line with the government’s Economic Development and Poverty Reduction Strategy,” said Sayinzoga Kampeta, the Permanent Secretary in the Ministry of Finance.

She added that the government is mobilizing more funds for the education sector since education is at the heart of developing human resources as well as development.
The project contributes to the enhancement of the institute’s training and infrastructure and avails the necessary equipment to enable it to move towards achieving its mission.

“Supporting the education sector is a major element in as far as achieving the Millennium Development Goals is concerned, and we are determined to do that,” said Hesham Al-Waquayan, the Deputy Director General of the Kuwait Fund for Arab Economic Development.

Al-Waquayan also said that the fund intends to support the health sector, adding that more areas of funding will be discussed next week.

The project includes construction and rehabilitation works such as civil engineering and electro-mechanical work, supply and installation of workshops and laboratory equipment and capacity building, among others.

According to Kampeta, the loan comes with softer conditions as it will be paid back in a relatively longer period of time with much lower interest rates.

Ends

 

Have Your SayLeave a comment