Rwanda has signed an agreement with the World Bank (WB) where the latter will offer Euro 75.9 million (Rwf 70 billion) loan to fund the construction of Ngoma-Nyanza road.
The funds will build the initial phase of 66 kilometers road of Kibugabuga-Nshinga- Gasoro and 199 kilometers road connecting Ngoma and Nyanza districts.
The remaining part of the road will be constructed under Japan government funding.
The Minister of Finance and Economic Planning (MINECOFIN), Amb.ClaverGatete has lauded the support saying it comes in handy.
“The agreements signed are meant to fund construction of Ngoma-Nyanza road which the president of the republic promised citizens. We sought where to obtain funds and succeeded,” he said.
“This road will ease free movement in East Africa for people from Tanzania to Southern Province of Rwanda, Burundi and Democratic Republic of Congo,” he added.
It is expected that over 500,000 Rwandans closer to the road from Kibugabuga to Gasoro in Nyanza district will benefit from 500 permanent jobs created by the project.
The representative of WB to Rwanda,Yasser El-Gamal has lauded Rwanda for good use of World Bank funds and promised continued support.
“We appreciate our cooperation with the Ministry of Infrastructure and Rwanda Transport Development Authority. That is why we are here today. They closely cooperate with the World Bank and we hope it will be sustained through MINECOFIN,” he said.
WB allocates funding to various development projects in Rwanda including agriculture.