Rwanda, China seal $8M development deal

m_Rwanda, China seal $8M development deal

The Government of Rwanda and the People’s Republic of China signed a grant worth $8 million (about Rwf5.6 billion) set to support Rwanda’s targeted goals within the Economic Development and Poverty reduction strategy (EDPRS 2).

The funds are part of China’s annual grant support to Rwanda and are expected to be allocated before the end of this year.

Rwanda’s Minister of Finance and Economic Planning, Ambassador Claver Gatete said that the projects to be funded will be agreed by both sides at a later stage and both countries are exploring ways of enhancing trade especially through export promotion and encouraging foreign direct investments in Rwanda.

Shen Yongxiang, the Chinese ambassador to Rwanda said that the two countries have a strong cooperation as one of mutual benefit and respect

Rwanda’s has had cordial relations with China since 1971 when the first medical team was dispatched to Rwanda in Ngoma district.

Their bilateral relation has grown with an estimated financial support of $5 billion in various sectors, including transport, energy, health, agriculture and education among many others.

This support has benefited projects among others; Kigali Urban Road Upgrading Project (36km), Kibungo Hospital, Ministry of Foreign Affairs (Minaffet) building and currently Chinese construction projects have played a vital role in upgrading the Kigali city outlook.

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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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