Rwanda, AfDB Review $3.9bn Project Portfolio to Boost Results

Gerald Mugabe, Director General in charge of External Finance at MINECOFIN, speaking at thw forum on Wednesday

Kigali — The Government and the African Development Bank (AfDB) are holding the 2025 Country Portfolio Performance Review (CPPR) — an annual exercise that helps both sides assess progress and improve delivery of projects funded by the Bank.

The two-day gathering November 12-13, in Kigali brought together officials from the Ministry of Finance and Economic Planning (MINECOFIN), the Ministry of Infrastructure (MININFRA), AfDB experts, and project managers from key sectors such as energy, water and sanitation, transport, agriculture, and ICT.

Aissa Toure Sarr, AfDB Country Manager in Rwanda, said the annual review helps ensure that Bank-funded projects continue delivering meaningful results.

“It allows us to take stock of progress, address challenges, and ensure that AfDB-financed projects are improving lives and supporting Rwanda’s Vision 2050,” she said.

Representing the government, Gerald Mugabe, Director General in charge of External Finance at MINECOFIN, reaffirmed Rwanda’s commitment to effective implementation.

“We value the strong partnership with the African Development Bank. Together, we are focused on making sure every franc invested translates into real progress for Rwandans,” he said.

According to the AfDB’s latest review, the Bank has so far committed $3.9 billion in total financing to Rwanda. The current active portfolio includes 22 projects worth over $2.5 billion, mainly in energy, water and sanitation, and transport — key sectors driving national development.

Over the past year alone, the Bank mobilized about $390 million in new funding for Rwanda.

This included $200 million from the AfDB’s main lending window, $123 million in concessional financing from the African Development Fund, and additional support from the Climate Investment Funds ($15 million) and the Africa Growing Together Fund ($50 million).

Looking ahead, the Bank plans to provide about $444 million in new financing between 2024 and 2026, targeting projects in infrastructure, green growth, and private sector development.

Beyond loans, the AfDB also provides grants, technical assistance, and credit lines to local institutions such as the Development Bank of Rwanda (BRD) to boost entrepreneurship and access to finance.

The 2025 CPPR will conclude with a new 2026 Action Plan to improve project implementation and ensure AfDB-supported investments continue contributing to Rwanda’s development goals.