Gov’t to get Rwf355.8b WB support

The World Bank, yesterday, pledged US$600m (Rwf355.8b) to support government projects in the next three years. According to the World Bank’s Country Manager, Mimi Ladipo, over the period, the funds will support projects in the sectors of Agriculture, Energy and Transport/ICT. Ladipo disclosed this at a press briefing head of the World Bank Group and the International Monetary Fund (IMF) annual meeting which brings together central bankers, ministers of finance and development, private sector executives. This year’s meeting will take place in Washington D.C in September from 23-25. “The funding is delivered via a series of individual projects/operations the first of which will be the General Budget Support operation which is due to be considered by the World Bank Board of Directors at the end of November. This budget support operation will be in the amount of US$125 million,” Ladipo noted. During the meetings, she said, Rwanda expects the Bank’s commitment to continue supporting its infrastructure needs and objectives. She further noted that the over-roll continuing commitment of the support by the World Bank will be through the country’s Economic Development and Poverty Reduction Strategy (EDPRS). Rwanda’s allocation for the next three years, which is a funded program under the 16 envelop began in July 2011. The Board of Governors of the International Monetary Fund (Fund) and the Boards of Governors of the World Bank Group (Bank) normally meet once a year to discuss the responsibilities of their respective institutions. The annual meetings occur ahead of the meetings of the International Monetary and Financial Committee, the Development Committee, the Group of Ten, the Group of Twenty-Four, and various other groups of members. Ends

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Gov’t to get Rwf355.8b WB support