URUGWIRO VILLAGE - The Director General of the Arab Bank for Economic Development in Africa (BADEA) has revealed the bank’s intention to increase its financial support to Rwanda in various projects.
Speaking to the press yesterday, shortly after his meeting with President Paul Kagame at Urugwiro Village, Abdelaziz Khelef said their discussions were based on the current cooperation and its perspectives in the coming years.
Khelef, who arrived in Kigali on April 30 is also supposed to tour Burundi and Mali among other African countries that get support from the Bank.
“We’re looking into the possibility of extending our support in this cooperation,” he said, adding that their financial interventions have mainly been oriented towards the energy sector, electricity generation systems and other infrastructural sectors in the country.
According to Khelef, the Bank’s financial assistance to Rwanda is so far estimated at Euro 84.4 million, which has been used to finance around 22 projects in the country.
Minister of Finance James Musoni explained that the cooperation between Rwanda and BADEA started way back in1975, but was quick to add that since recently, the assistance to various projects became regular and is estimated at around $ 10 million every year.
Musoni elaborated that apart from rural electrification and energy projects, the support is also being used in road construction and renovation.
To this end, he said BADEA, AfDB (African Development Bank) and the government have embarked on the renovation of the Huye – Rusizi road that goes through Nyungwe National park in south-west of Rwanda.
“The project may take around six months to get everything done,” Musoni said, noting that currently, AfDB and the government of Rwanda have already gathered their contribution for the implementation of this project.
Since 1975, BADEA says the total volume of its support to 43 African countries has reached Euros 3.6 billion, and the money has been used to finance 460 projects and 447 operations of technical assistance.
The selection policy for projects to get BADEA intervention is based on improvement of people’s living conditions, poverty reduction, women participation in development, environment protection and the fight against desertification.