THE government of Rwanda and the World Bank signed an agreement to jointly finance the construction and maintenance of the Kigali-Ruhengeri road on Friday, September 05 at the Ministry of Finance Board room.
The minister of Finance, James Musoni signed the $69 million (approximately Frw37.6 billion) deal on behalf of the government of Rwanda with World Bank Country representative, Victoria Kwakwa.
The World Bank is to provide a grant amounting to $49 million. Of this amount, $38 million is a contribution by the United Kingdom to the World Bank’s African Catalytic Fund.
US$11million is a direct contribution of the World Banks International Development Association (IDA). The Rwandan government is to contribute $20 million (about Frw10.9 billion) in road infrastructure development project.
Speaking at the signing ceremony, Musoni said the project will be coordinated by the government of Rwanda together with the World Bank.
He further said that the project is very important because it will connect Kigali to the Northern and Western provinces as well as Uganda and the DRC.
Musoni also expressed gratitude to the UK government for making a huge contribution to the project through the World Bank.
He expressed optimism that other developed countries will emulate the United Kingdom and provide financial assistance to Rwanda for other development projects in future.
Kwakwa said the project to finance the Kigali Ruhengeri road is in line with Rwanda government’s recently launched national Economic Development for Poverty Reduction Strategy (EDPRS).
“There is a link between growth and infrastructure development” said Kwakwa.
She said that strengthening the national infrastructure like roads is laying ground for growth, adding that road transport infrastructure is important for land locked countries like Rwanda.
She said that the World Bank has been supporting other projects in the country, like provision of water in rural areas and supporting of AIDS programs.
She further commended the government of Rwanda, saying that the World Bank Rwanda has performed better than most countries in Africa. Also present at the ceremony was the governor of Northern Province Boniface Rucagu and the minister for infrastructure Stanislas Kamanzi. The project is to commence next year and will run up to 2011.