The programme was initially expected to end in 2022.
Premier Ngirente made the disclosure on the first day of National Dialogue Council (Umushyikirano) on 27th February 2023.
Umushyikirano is convened every year to assess the state of the nation and Rwandans’ unity.
The previous meeting was held in 2019 but was suspended in the following years due to COVID-19 related restrictions.
Premier Ngirente has said that the previous meeting came up with 12 resolutions that had to be implemented within one year but highlighted that they were adjusted due to the emergence of the pandemic.
He explained that the economy continued to thrive during COVID-19 owing to instituted measures.
Dr. Ngirente said that the Economic Recovery Fund was established in 2021 where a total of US$350 million was injected in two phases.
The first phase saw over Rwf101 billion allocated to different sectors of the economy to facilitate business recovery.
Hotels, trade, transport and agriculture are among other sectors that benefitted from the funding.
“Rwf48 billion have been disbursed in the second phase and the program is ongoing. The funds are aimed at helping members of the private sector to recover from effects of COVID-19 and expand their investments,” noted Dr. Ngirente.
He also reminded participants that the government established the ‘Manufacture and Build to Recover’ programme.
The latter seeks to develop industries with a view to reduce imports.
“This programme had to end in 2022 but we agreed, last month, to extend it by two years,” he said.
The Manufacture and Build to Recover Program aims to fast track private sector investments in manufacturing and construction.
It is expected to play a big role in reducing the cost of setting up industries of key essential products as well facilitating the expansion of small and medium industries.
This programme worth US$1.8 billion is expected to provide over 36,000 job opportunities.