BADEA boosts Energy sector

KIGALI, Rwanda - Minister of Finance and Economic Planning Amb.Claver Gatete has received $11.2million on behalf of the Rwandan government from the Arab Bank for Economic Development (BADEA).

This is for the aim of meeting the Economic Development and Poverty Reduction Strategy 2(EDPRS 2). The funds are meant for rural electrification programs in districts of Burera and Nyagatare.

Gatete said: “This loan which is a concessional loan fits well in the country’s EDPRS 2 particularly in the areas of increasing economic transformation for growth. This will be through productivity and rural development,” This loan is repayable over 30year with a 10years grace period with a one percent interest rate per year.

He appreciated BADEA for the support offered to Rwanda.

Rwanda plans to increase access to energy especially in the rural areas. This will enable people improve their livelihoods and drive the country into a middle class country as per its Vision 2020.

Currently the installed generation capacity is close to 120MW which gives the country hope of meeting its target of access to power to 70% by 2017. It currently stands at 19.4%.

The Director General BADEA Abdelaziz Khelef said the Bank continues to support development projects in Rwanda since the country effectively implements funded projects.

“Rwanda is known for it’s effectiveness in supporting development initiatives. That informs the bank’s decision to continue to support development initiatives of the country,” Khelef said.

BADEA supports different projects in Rwanda such as the rehabilitation of the hydroelectric power plant, rehabilitation of Congo-nil urban Huye road, Kivu Belt (Rubengera-Gasiza) multinational road among other projects.

Such support enables people access electricity, start-up businesses and eradicate poverty.

By Agnes Bateta, Monday, June 09th, 2014


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