Rwf4.32b to boost regional trade

The European Union (EU) and the government of Rwanda yesterday signed a grant agreement of Euro3 million (Rwf2.4b) to rehabilitate poor bridges in a bid to boost trade between Rwanda and Democratic Republic of Congo. Part of the grant agreement totaling to about 3 million Euros was signed between the EU and Democratic Republic of Congo (DRC) for the same works. The agreement will involve the rehabilitation of heavy and light bridges connecting two boarder posts of Rusizi district in Western region and Butavu in DRC. This was noted during the official signing ceremony where Minister of Finance and Economic Planning James Musoni signed on Rwandan part and Ambassador Dr. David Mac Rea on behalf of EU. According to Musoni about 8Kilometers will rehabilitated and some urban roads in Rusizi town a move that will improve trade-related issues create cheap affordable transport costs. “European Union continues to be supportive in the agenda of infrastructure development and regional economic development which is in our target EDPRS program,” Musoni said. The two bridges to be rehabilitated are part of Central and Northern corridors connecting Rwanda, Burundi and DRC to the Indian Ocean through Dar es Salaam and Mombasa ports. In a press statement from EU, an agreement of 400, 000 Euros was also signed between EU and Economic Community for Great Lakes Countries (CEPGL) represented by Executive Secretary Gabriel Toyi, a grant to be used in the feasibility study for the rehabilitation of cross boarder links between Rwanda, Burundi and DRC. “This financing agreement and this study have important economic and political dimensions,” Amb. Mac Rea said. EU has been supporting areas of direct budget support, rural development and infrastructure areas that are reflected in the Country’s Economic Development and Poverty Reduction Strategy Paper (EDPRS). Ends

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Rwf4.32b to boost regional trade