Rwanda gets Rwf410 bn for sustainable development

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Rwanda gets Rwf410 bn for sustainable development

Finance minister Claver Gatete (L) and EU Commissioner Andris Piebalgs (R) sign the deal in Brussels

Governments of Rwanda and the European Commission have signed a grant that will support sustainable energy, agriculture and food security as well as accountable-governance in Rwanda.

The six year development assistance (2014-2020) amounting to € 460 million (approximately Rwf410 billion) was signed in Brussels on September 18, 2014 between Rwanda’s Minister of Finance and Economic Planning, Claver Gatete, and European Union Commissioner for development Andris Piebalgs.

Minister Gatete said will focus critical sectors and will impact on Rwanda’s development and contribute to the socio-economic wellbeing of Rwandans.

Commissioner Piebalgs hailed Rwanda for its outstanding efforts to transform the economy and achieving its targets set by the government.

“The EU firmly supports the commitment of the Government of Rwanda in pursuing accelerated growth and in reducing poverty.

We recognize the excellent progress achieved as well as universally acclaimed results towards attaining the Millennium Development Goals,” Commissioner Piebalgs said.

Rwanda has set its focus on improving the agriculture and energy sector and accountable-governance. The government has set a pace to subsidizing agro inputs and access to agricultural credit and access to modern farming techniques.

The funds will be a major contribution in these areas especially will focus on strengthening public accountability, democratic governance and ensuring efficient, effective and accountable use of public resources.

The funds will also increase access to energy for urban and rural households, energy efficiency and reduction of diesel and biomass dependency, a boost to Rwanda’s targets.

The government earmarked Rwf10.8 billion for renewable energy and climate resilient technologies initiatives in the current financial year and drafting new standards to streamline and regulate the bio-energy sector.

The Rwanda Biodiesel company is also expected to resume its activities which will save the country up to at least over $300m (about Rwf209.4b) annually in diesel imports.

 

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About the author

Olive Ndaka is the Junior Editor for RwandaEye. An investor and young entrepreneur, she is a quick learner and has contributed many articles for RwandaEye in Kinyarwanda.

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