Half of the grant (Rwf72 billion) will be provided as loans, while the rest will be provided as grants.
The World Bank has been supporting Rwanda for more than 10 years in various energy-related projects under the government’s plan to provide electricity to all Rwandans by 2024, as well as a program to promote the use of renewable energy, which will be used by ’all Rwandans by 2030.
The money will be used to expand the Ntaruka Dam, rehabilitate power lines to reduce wasted electricity, modern lumbering programs and promote the use of renewable energy.
Rolande Pryce, the World Bank Country Manager for Rwanda, said the funding came in the right time because it was in line with the government’s plans to distribute electricity to all.
“The project has come a long way in strengthening aid that has been in place for more than 10 years and the World Bank is supporting Rwanda in its energy distribution programs. It will therefore help in the government’s plan to provide electricity to all in 2024. We are proud to be Rwanda’s partners in this program,” she said.
The World Bank already supports Rwanda in other development programs including; distribution of electricity, agriculture and education among others.