Home Business & TechEconomy German Injects €78 M Into Rwanda’s COVID-19 Recovery

German Injects €78 M Into Rwanda’s COVID-19 Recovery

by Daniel Sabiiti
6:20 pm

Rwanda and Germany have signed €78 million (Rwf90billion) agreement to support decentralization, good governance, exports promotion and technical education (TVET) among other initiatives.

The financing and technical cooperation agreements was penned between Minister of Finance and Economic Planning Dr. Uzziel Ndagijimana and the Ambassador of Germany to Rwanda Dr. Thomas Kurz in Kigali this April 12, 2021.

The agreements will see, €59million Euros of the grant agreement provided through KFW Development Bank to support various initiatives including technical and vocational training, promotion of export oriented SMEs, through the support to Export Credit Facility in Rwanda under BRD, promotion of green investments as well as ICT support.

The remaining €19million will be channeled through GIZ and will support decentralization and good governance, prevention of sexual and gender based violence among others.

Minister Ndagijimana said that the financial support extended to Rwanda will support key areas that are critical to the country’s development agenda and respond to impact of COVID-19 pandemic.

“This support comes at a critical juncture given the effects COVID-19 has had on our social –economic advancement. We look forward to boosting these important areas that are in line with our National Strategy for Transformation (NST1),” Ndagijimana said.

Ambassador Dr. Thomas Kurz stressed that the financing intends to strengthen cooperation between the two countries in spite of the COVID-19 pandemic having impacted on most of the areas of support.

“These agreements underline the long-standing and proven cooperation between our two countries based on friendship and mutual trust. Germany is committed to support Rwanda in its Economic Recovery Process and the implementation of NST 1 in order to reach the sustainable development goals (SDGs) and leave no one behind,” Kurz said.

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