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PM Ngirente, EIB Boss Discuss Deepening Existing Financing Partnership

by Daniel Sabiiti
9:13 am

Prime Minister of Rwanda, Dr. Édouard Ngirente (right) met with Thomas Ostros, the Vice President of European Investment Bank (EIB).

The Prime Minister of Rwanda, Dr. Édouard Ngirente has received Thomas Ostros, the Vice President of European Investment Bank (EIB) to discuss ways of further strengthening the existing partnership between the government of Rwanda and the bank.

The purpose of the courtesy call held at the Office of the Prime Minister in Kigali, this March 15, 2024, was to discuss an oversight in areas of energy, health, agriculture water and sanitation.

Ostros said that they have interest in collaborating of different projects of which some are in the pipeline.

“We have the private sector and the sewerage system in Kigali in front of us, and we have very many other interesting projects,” Ostros said.

Ostros noted that the interesting thing is that both have projects that are ongoing and others in the pipeline- for instance the volcano project that will be good for collaboration, going forward in their existing relationship.

“The two parties were satisfied by the successful cooperation and they committed to strengthen further our cooperation,” said Uzziel Ndagijimana, the Rwandan Finance Minister.

EIB officials and the PM Ngirente shared a light moment after the courtesy call

The meeting comes at a time when the European Investment Bank (EIB) and the Bank of Kigali (BK) signed a Euro 100 million climate finance initiative in Dubai, at the end of last year.

The financing is meant to help Rwandan farmers and agricultural businesses players across Rwanda to better withstand the economic, social and business impacts of climate change.

This climate investment, which also intends to finance 30% of businesses owned by women, was the first climate resilience business finance scheme in Rwanda and largest ever offered by EIB for private sector investment in Rwanda.

EIB officials held a closed meeting with the PM Ngirente in Kigali.

The meeting with the European Investment Bank, comes a few days following another important meeting that the PM held with the newly appointed World Bank (WB)- Rwanda Country Manager- Sahr John Kpundeh.

Kpundeh Both reaffirmed the bank’s commitment and partnership to continue collaborating with the government Rwanda in implementing the upcoming second National Strategy for Transformation (NST2).

Currently, the WB has a portfolio of over $3 billion under the Rwanda Country Partnership Framework (2021–2026)- which is still valid towards the fiscal year 2026.

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