Private Sector to benefit from $ 160m trade deal

The Rwandan private sector is set to benefit from $ 160million fund run by Enhanced Integration Framework (EIF), an international body based in Geneva. EIF supports Least Developed governments in trade capacity building and integrating trade issues into national development strategies. In an interview yesterday George Muramula senior advisor to the Ministry of Trade and Industry said government is mobilizing the private sector to identify priority challenges that will develop bankable projects to benefit from the $160 million for the next three years. “The EIF wants to identify the challenges from citizens especially from rural areas and bring it t o the national level, alert the government how that person can be helped,” Muramula told Business Times on the sidelines of a one day validation workshop organized by the Ministry of Trade and Industry. According to a study done EIF dubbed ‘Diagnostic Trade Integration’, access to electricity, high electricity costs, low data availability on trade matters and monitoring capacity on trade issues and access to trade finance were identified as some of the challenges affecting private sector productivity. This is in addition to insufficient equipment and capacity to test products for standards compliance, and poor conditions of roads. “If challenges can have bankable projects, EIF would have a great impact on the Rwandan population,” Muramula who is also the acting coordinator of EIF observed. While each project can access funding up to $2million, Muramula said each country has no limit on how many projects should be submitted. The study recommends that the existing forums such as the Private Sector Development Cluster should be used as a tool for monitoring and evaluation and improving information sharing among stakeholders. Projects are expected to be submitted next month upon general consensus on priority constraints and by February next year funds from EIF will be disbursed. Ends

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Private Sector to benefit from $ 160m trade deal