Rwanda, France to sign €3.3m energy deal

KIGALI - Rwanda and France will, at the end of this month, sign a deal which will see France inject €3.3 million into RECO-RWASCO to support the national electrification programmes. The agreement to be signed on September 28 between Finance Minister John Rwangombwa, French Ambassador Laurent Contini and the Regional Director of the French Agency for Development (AFD), Yves Terracol, will be part of the resumed economic cooperation between the two countries. According to the French Embassy in Kigali, the funds will be channelled into supporting rural electrification programmes and also increase access to electricity, as part of the commitment by the French government to support economic development in the country. The agreement will follow another one signed earlier this year between the two countries to recycle a loan Rwanda owes France and instead channel it into energy access projects. The agreement came after the two countries restored diplomatic relations and also agreed to resume other economic cooperation programmes. France also agreed to resume budgetary support to Rwanda. Rwanda will pay back the loan to the Bank of France in three years and France will return it to Rwanda as a grant.According to a statement released by the French Embassy, the money will particularly be used for the electrification of several parts of the country, including Cyanika, Miko, Mbazi and Nyamagabe District. During the signing of the first agreement, Rwangombwa said the money was vital in supporting government plans to increase rural electrification and hailed France for its commitment to support development in Rwanda. The French Embassy also stressed that France is committed to continue working with the Government of Rwanda to pursue long tern and sustainable economic development. Ends

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Rwanda, France to sign €3.3m energy deal