Lawmakers approve financing agreements worth $40 million

Members of parliament on Monday approved two bills authorising the ratification of two separate agreements to the tune of US$39.95 million intended to support the country’s skills, employability and entrepreneurship ambitions.According to an explanatory note seen by The New Times, this Sector Budget Support operation will contribute to the implementation of reforms in skills and employability, and entrepreneurship development to ensure that achievements already undertaken by the Government are not reversed. Finance minister Claver Gatete told lawmakers that the two draft laws authorising the ratification of the protocol of the loan agreement was signed in Kigali, on April 16, between government and the African Development Fund (ADF), the concessional window of the African Development Bank (AfDB) Group.“This project comes to support the ongoing skills development initiative and, especially sustain EDPRS II,” Amb. Gatete said, adding that despite notable progress in education reforms, the country still faces challenges in terms of skills gaps, education quality and relevance for the labour market and, therefore, critical actions are needed to tackle these challenges.Importance of the AgreementsThe skills, employability and entrepreneurship programme aims to create jobs and sustain the remarkable growth it has achieved over the past decade.Accordingly, the programme will help the government consolidate and sustain its commitment and momentum to reforms, with particular emphasis on: skills and employability; and entrepreneurship development to accelerate growth and poverty reduction.Lawmakers approved the Bills without subjecting them to standing committee deliberations, citing the benefits to the country.MP Gideon Kayinamura said: “I support the idea that we don’t delay the bills by going through the committee process but quickly approve these draft laws. It is important for the implementation of EDPRS II”

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Lawmakers approve financing agreements worth $40 million