Exim Bank funded projects worth USD 267 million in Rwanda

Exim Bank funded projects worth USD 267 million in Rwanda

India’s Export Import Bank (Exim Bank) has provided soft loans of USD 266.60 million to Rwanda for various projects.
The funding, done in three separate tranches to Rwanda, is to support:

1) agricultural projects,
2) development of special economic zones (SEZs) and
3) for financing road project in the African nation.

According to the agreements, Exim Bank will provide
1) USD 100 million for financing the development of two SEZs (Special Economic Zones) and expansion of the Kigali SEZ in Rwanda;
2) USD 100 million for financing three agriculture project schemes —

  • Warufu Multipurpose Project,
  • Mugesera Irrigation Project and
  • Nyamukana Irrigation Project.

3) While USD 66.60 million will be funded for the Base-Butaro-Kidaho Road Project.
All the three funding project agreements between Exim Bank and the Government of Rwanda have been put to effect from April 2, 2019.
About Rwanda:
Capital: Kigali
Currency: Rwandan franc
President: Paul Kagame
Prime Minister: Édouard Ngirente