Rwanda Government has received funding worth USD 20 million through a loan agreement signed with OPEC Fund for International Development (OFID).
The new funding is expected to boost financing for the provision of water and sanitation infrastructure in Kigali and six other cities through the Rwanda Sustainable Water Supply and Sanitation Programme (Phase II.)
If well implemented, the project is expected to boost living standards of almost 1.6 million people in line with the government’s agenda to reduce poverty and boost the country’s development.
OFID noted that the completion of the project will see to it that water and sanitation access in Rwanda reach 81 percent of national coverage.
The fund will facilitate the construction of eight water supply systems to serve 14 districts, the installation of 7,600 connections and the provision of sanitary facilities in 10 schools.
Cross-Border Money Transfer In Africa: Is Bitcoin The Golden Silver Bullet?
Rwanda’s Prime Minister Édouard Ngirente commented on the new agreement saying that the OPEC Fund’s contribution to Rwanda’s infrastructure will boost key sectors such as transport, energy, water supply, and sanitation to propel growth.
OPEC Fund and Rwanda have had a longstanding relationship since 1976. To date, the OPEC Fund has approved 27 loans for a total amount of about US$202 million.
The Director-General of the OPEC Fund for International Development (OFID) Dr. Abdulhamid Alkhalifa lauded Rwanda for its remarkable progress which he said is an inspiration to many other countries.
“We are able to support development projects via our public and private sector operations windows and will work with Rwanda as it continues on its journey of socioeconomic transformation,” he added.
Featured Image Courtesy: National Public Radio
