(Ecofin Agency) - The United Nations (UN) approved $630 million in a 5-year financing to Rwanda to support projects in economic transformation, Social transformation, and Transformational governance. The document was initialed July 31 in Kigali by UN Resident Coordinator Fodé Ndiaye (left on photo) and the Minister of Finance and Economic Planning Uzziel Ndagijimana (right on photo).  

According to the minister, 40% of the budget is available while “the remaining 60% will be mobilized through various initiatives including a consolidated resource mobilization strategy”. He pointed out that these three focus areas of intervention are aligned with the country’s development strategy whereby the government plans to create 1.5 million decent jobs, speed up urbanization, foster industrial development and boost husbandry and agriculture.

The funding also targets an improvement in human capital development, good governance and legal system. Fodé Ndiaye, for his part, recalled that the United Nations had committed about $475 million in humanitarian and development actions in Rwanda over the past five years.