Arab Bank chief calls on Kagame

VILLAGE URUGWIRO - The Director General of the Arab Bank for Economic Development in Africa (BADEA), Abdelaziz Khelef, yesterday, called on President Paul Kagame at Village Urugwiro. Khelef, who is in the country on a five-day visit, told reporters shortly after the meeting that he briefed the President about BADEA’s support to Rwanda and future cooperation, including support to private sector development. “I was privileged to meet the President. We discussed the cooperation that exists between BADEA and Rwanda,” Khelef said. “This cooperation started long ago and we have financed many projects mainly in the infrastructure sector especially roads and energy.” The BADEA chief briefed President Kagame on the Arab bank’s participation in the construction of a multinational road linking Rwanda and Burundi, with a loan amounting to US$11m. The agreement was signed on Sunday by Khelef and the Minister of Finance and Economic Planning, John Rwangombwa. The agreement is part of the bank’s commitment to co-finance Lot Nº 6, from Rubengera to Gisiza on the road to link Bujumbura-Rusizi-Karongi-Rubavu, thus connecting the western part of the country to neighbouring Burundi. Khelef said that the funds would go towards the construction of the 23.6 Km Rubengera-Gisiza section. He noted that BADEA is content with the mutual cooperation that exists between Rwanda and the bank, adding that BADEA is committed to continue supporting the country in various programs. “We are very satisfied with the cooperation that exists between the Ministries of finance and infrastructure and we expect that in the future, we will continue to help in different sectors to help the government achieve its development goals,” he said. According to the Minister of Infrastructure, Albert Nsengiyumva, BADEA has been supporting different infrastructure projects, particularly roads construction, including the Kivu Belt road and the Muhanga-Ngororero-Mukamira road which is nearing completion. BADEA is also financing major road projects within the northern corridor including the Gicumbi-Nyagatare (Basin) road and Ngoma-Nyanza, whose construction is yet to begin. The roads are expected to boost trade locally and regionally. Minister Nsengiyumva said that BADEA is also financing the construction of hydro-power dams in Gisenyi, Gihira and Mukungwa. He explained that BADEA finances projects on concessional basis and at low interest rates which favours the government, adding that the bank is now willing to give support to the country’s Small and Medium Enterprises (SME’s). Ends

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Arab Bank chief calls on Kagame