Public Management

Rwanda secures a $326 China-India loan for development projects

Tuesday, 24 July 2018 17:12

Rwanda will benefit from $326 million jointly granted by China and India for development projects, the Finance Minister Uzziel Ndagijimana (photo) said.

According to Reuters , the money mainly targets infrastructure sector. For the record, India has committed nearly $200 million when the Indian PM Narendra Modi visited Rwanda. A half of this financing will be used for irrigation in three regions, while the second half will be used to establish special economic zones to attract businesses to Rwanda.

In addition, more than a dozen cooperation agreements were signed with China during President Xi Jinping's visit to Kigali. This include a loan agreement of $76 million for the construction of the Huye-Kibeho road, and $50 million for the construction of the new access road to the Bugesera airport.

The visit of the two Asian leaders comes a few days before the next BRICS Summit (Brazil-Russia-India-China-South Africa) to be held in Johannesburg from July 25 to 27.

Moutiou Adjibi Nourou   

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