WB VPs to attend dev’t partners’ meeting

KIGALI - Two World Bank officials have confirmed their participation in the high level investment forum on November 3-4 and the Development Partners Meeting slated from November 4-5 in Kigali.

KIGALI - Two World Bank officials have confirmed their participation in the high level investment forum on November 3-4 and the Development Partners Meeting slated from November 4-5 in Kigali.

The World Bank Regional Vice President for Africa, Obiageli Ezekwesili, and the Executive Vice President for the Multilateral Investment Guarantee (MIGA), Izumi Kobayashi, arrived in the country yesterday and will help catalyze support for increased investments in Rwanda’s private sector.

The  IFC has commitments of $20.37 million in five operations including in agribusiness, tourism and transport and logistics.

Through its Investment Climate Reform Project, IFC also supports Rwanda in improving its regulatory environment, building institutions, and attracting private sector participation.

The Investors’ Forum will showcase trade and investment opportunities open to domestic and foreign investors in the horticulture and tea sectors in Rwanda.

The ninth DPM will review progress made in economic development and agree on actions to address bottlenecks and key constraints to aid effectiveness.

It will also develop a strategy to further enhance synergies between aid and private investment for the attainment of the Millennium Development Goals.

Currently the World Bank Group’s investments in Rwanda accounts for l $304.68 million, while Multilateral Investment Guarantee Agency (MIGA) provided guarantees to three projects in the financial sector amounting to$17.3 million. 

The International Development Association (IDA), the arm of the Bank which provides zero-interest credits and grants to low-income countries, also committed US$267.28 million in 11 projects in various sectors including energy, agriculture and private sector development, as well as general budget support of about US $80m annually.

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