Photos: Kagame meets President of the African Development Bank

By IGIHE
On 12 July 2019 at 07:58

President Paul Kagame has met with Dr. Akinwumi Adesina, President of the African Development Bank (AfDB) and the Africa50 Board Chairman which finances development projects on African continent.

Dr Adesina came to Rwanda to attend the 4th Africa50 General Shareholders Meeting which took place at the Kigali Convention Centre from 09th to 10th July 2019.

During the meeting, Prime Minister, Dr. Edouard Ngirente recalled the importance of increasing opportunities in technology advancements in all sectors of Africa’s economies and insisted on the need to invest across multiple dimensions from connectivity in rural and urban areas to digital literacy to increase adoption, and to prepare young people to be successful in a digital world.

AfDB is a development partner of the Government of Rwanda in big projects. It granted US$ 94 million to Rwanda in 2016 to finance the renovation and expansion of 2018 km road (Kagitumba-Kayonza-Rusumo).

In 2018, Rwanda received €229 million loan from AfDB to expand electricity and later in January 2019 secured €115 million from the bank to finance projects meant to expand access to water.

In November 2018, The Africa50 also agreed to donate US$400 million loan to the Government of Rwanda to finance Kigali Innovation City (KIC).

Under these agreements, Africa50 will be a sponsor and partner where it will bring its expertise in infrastructure related projects and collaborate with Rwanda Development Board (RDB) to upgrade the project expected to turn Rwanda into a technology innovation hub.

Located in Special Economic Zone, Kigali Innovation City project will cost US$2 billion. It will be a hub for international universities like Carnegie Mellon (CMU), African Leadership University (ALU) and African Institute of Mathematical Sciences, tech companies and commercial buildings among others.

KIC is also expected to provide trainings to tech companies from across the world to operate in Rwanda with the aim of becoming technology hub and building knowledge based economy.

President Paul Kagame has met with Dr. Akinwumi Adesina, President of the African Development Bank (AfDB)
Africa50 will be a sponsor and partner where it will bring its expertise in infrastructure related projects

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