The agreement was signed on Tuesday 19th July 2022.
During the signing ceremony ; Rwanda was represented by the Minister of Infrastructure, Dr. Ernest Nsabimana while Austria was represented by its ambassador in Rwanda with residence in Kenya, Christian Fellner.
Minister Nsabimana has said that the bilateral agreement expected to strengthen existing cooperation between both countries, is a fruit of existing relations that have deepened roots.
He explained that it provides opportunities to continue expanding the large network in tourism and trade.
The agreement entails processes aimed at enhancing air transport including a legal framework for the regulation of frequency and capacity of air services between both countries and pricing among other aspects.
Amb. Christian Fellner said that the agreement will add up to efforts meant to enhance movements and commended existing cooperation between both countries in different areas of development.
The development follows another deal inked on Monday 18th July 2022, where Rwanda and UniCredit Bank Austria signed a financing agreement worth EUR 7.5 million (approximately Rwf 7.5 billion) for the establishment of a Technical and Vocational education and Training (TVET) Centre of Excellence in the Kigali Special Economic Zone.
The centre of excellence will enable establishment of a modern and highly efficient dual training program which will be a model for industrial-academia linkages that allows exchange of training facilities such as workshops and equipment for mutual benefits.
According to the financing modalities, 15% of the US$ 7.5 million (or EUR 1.125,000) will be a grant. The financing facility will be guaranteed by Oesterreichische Kontrollbank AG (OeKB) on behalf of the Republic of Austria at 0% interest rate, with a payment period of 18.5 years after a grace period of 8.5 years.