The European Union, under its Multiannual Indicative Program (MIP) has committed to provide a total of Rwf278 billion (€260 million) for a period of four years, as part of the efforts to strengthen the latter’s bilateral cooperation with Rwanda.

The development was announced Wednesday, May 18 by the Minister of Finance and Economic Planning, Uzziel Ndagijimana alongside Myriam Ferran, Deputy- Director General of the European Commission’s Directorate General for International Partnerships.

During the meeting, the officials took stock of the current progress of the EU-Rwanda partnership, especially EU’s support to Rwanda’s Covid-19 recovery plans as well as concrete investments on local vaccine manufacturing by the European private sector.

"EU support to key areas such as human capital development, green economy through agriculture transformation, private sector development as well as governance is a sign of strengthened collaboration, partnership and enhanced ownership to deliver transformational change we both desire,” said Minister Ndagijimana.

The fund, he added, will benefit strategic areas including education, skills and jobs for the youth in the digital age, a green deal for inclusive development as well as political and economic governance.

Ferran echoed similar sentiments, citing that for the past two decades, Rwanda and the EU have shared long and fruitful relations.

"The European Union has a long standing partnership with Rwanda and we are proud to be one of the key partners in the country’s path to sustainable development,” she said.

According to Ferran, the officials also discussed the adoption of the new EU cooperation strategy with Rwanda, an ‘important’ step to turn political and strategic decisions into concrete action.

The new cooperation strategy, officials said, will be implemented under the new Global Europe financing instrument launched in December last year to, among others, increase the collective scale and impact of European partners in Rwanda. 

"With this strategy we renew the EU’s commitment to support pro-poor, sustainable and inclusive economic growth,” Ferran reiterated.

Commenting on the priority areas under the new initiative, she said that the partnerships include climate and environment, green and digital transition, energy, transport as well as health and education.

"All those areas are really key areas of cooperation between Rwanda and the EU,” she asserted.

Growth of bilateral ties in leaps and bounds was recently evidenced by hosting the EU-AU ministerial meeting in Kigali, among other developments.