There is optimism that the Rwanda day2015 that kicks off this Saturday in The Netherlands is likely to see more remittances as well as investments flow into the country.
Remittances are the money Rwandans living in Diaspora send back home and is part of the revenues that are budgeted for in the national budget.
Rwanda has recorded an increase in its remittances back home in the past years which is mainly attributed to the Rwanda day events that aim to woe Rwandans in Diaspora to participate in the development of the country.
For example, Central bank statistics indicate that remittances inflow grew to $174 million in 2014 up from $50 million a few years back, showing an increase in the inflow.
This, according to central bank was more than revenues fetched by tea and coffee, the country’s key exports, indicating more growth of the inflows is likely to trigger economic growth.
Experts believe that an increase in remittances is likely to surplus the aid the country gets from development partners by 2020, something that is likely to trigger self-reliance and consequently support economic growth.
With its (aid) unreliability that is characterized by delays and cancellation, Rwanda since 2013 has been looking at other sources to finance its budget, a move that has paid off.
“As Diaspora we want to do more than this and have an active role in the development of our country,” said Norbet Haguma, the vice chair at the Rwanda Diaspora Global Network (RDGN) during a recent dialogue in Kigali.
Therefore, Rwanda Day 2015 to be held in Netherlands is likely to trigger an increase in remittances inflow as over 33,000 Rwandans living in Diaspora across the world as well as friends of Rwanda are expected to attend.