KIGALI - The World Bank and the government, yesterday, signed an agreement worth US$50million to develop the agricultural sector in the country.
The signing was held at the WB headquarters in Washington DC.
“The financing is extended in the framework of Global Agriculture and Food Security Programme (GAFSP) to support the increase of productivity and commercialisation of hillside agriculture in the country,” reads a joint statement released yesterday after the signing.
Rwanda is the first country to benefit from the programme.
Johannes Zutt, represented the WB at the signing while the Finance and Economic Planning Minister, John Rwangombwa represented Rwanda.
“This first phase of the programme will consist of establishment of farmer organisations and cooperatives,” reads the statement.
The funds will also help in strengthening market infrastructure and capacity building, including provision of technical assistance and development of post harvest infrastructure, such as packing houses and cold storage.
During the ceremony, Rwangombwa thanked the World Bank team that worked so expeditiously for Rwanda to be the first beneficiary of GAFSP and reiterated the government’s appreciation to the bank for the continued support in several critical sectors of the economy.
“Zutt appreciated Rwanda’s progress in all spheres of the economy and notable strides in agriculture where Rwanda and World Bank efforts have been fruitful,” adds the statement.
Rwangombwa has been in the American capital for the annual spring meetings with the World Bank and the International Monitory Fund.