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Rwanda : RWANDA inks $70M funding agreement with WORLD BANK.

Through the Finance and Economic Planning Ministry, the government of Rwanda has inked a $70 million funding agreement with World Bank to support social protection programmes.

Minister of Finance Amb. Claver Gatete said poverty reduction and inclusive development is among the government's primary strategies.

He added that the money would help the government meet these objectives.

He noted that the primary aim here is to support vulnerable people and households to come out of absolute poverty which will help Rwanda achieve economic development

The country has seen a drop in poverty from 40% to 24% in 2011, since 2001, which has been due to the various social protection programmes arranged but mainly the Vision 2020 Umurenge Program (VUP) which covers more than one million people of Rwanda.

The minister added : 'This program is mainly supported by the World Bank which aims at seeing Rwanda meet the Economic Development and Poverty Reduction Strategies 2 (EDPRS2) as laid out'.

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Publication:Mena Report
Geographic Code:6RWAN
Date:Mar 25, 2014
Words:170
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