(Ecofin Agency) - The European Investment Bank (EIB) and Bank of Kigali (BK) announced a joint RWF60 billion ($66.5 million) investment for the Rwandan private sector this week.

In the framework of that cooperation, the two banks will co-fund agriculture, transport, education, health, manufacturing and tourism sectors.

Each of the two banks will create a RWF30 billion ($33.2 million) credit line to provide long-term financing to local firms and boost their involvement in the Rwanda private sector.

“The new RWF60 billion engagement agreed today, our largest ever cooperation with the largest commercial bank in Rwanda, will ensure that many Rwandan companies build on their strengths and contribute to sustainable economic development in the heart of Africa,” the EIB indicated in its release.  

Moutiou Adjibi Nourou