M a r k e t N e w s
Kuwait Fund Signs Nyagatare-Rukomo Road Agreement with East Africa
Posted on : Tuesday, 15th December 2015
A Loan Agreement was signed today in Kigali between the Republic of Rwanda and Kuwait Fund for Arab Economic Development whereby the Fund will extend a loan of Kuwaiti Dinars Four Million and Five Hundred Thousand Kuwaiti Dinars (K.D. 4,500,000/-), approximately 15.3 million US Dollars, to help finance the Nyagatare-Rukomo Road Project.
The Loan Agreement was signed on behalf of the Republic of Rwanda by H.E. Mr. Claver Gatete - Minister of Finance and Economic Planning and on behalf of the Fund by Mr. Hesham Al-Waqayan, Deputy Director-General of the Kuwait Fund for Arab Economic Development in attendance of Mr. Abdul-Rahman Al-Hashim, Regional Manager for Central, East and South African countries.
The aim of the Project is to enhance the economic and social development of the Northern and Eastern Provinces of Rwanda, and at the same time to participate in linking Rwanda with the Republic of Uganda and the Democratic Republic of the Congo.
The Project consists of construction works to attain an all-weather asphalted road between Nyagatare and Rukomo with an approximate length of 73 kilometers, and a width of 7 meters (in addition to 1.5 meters for shoulders on each side), and consisting of two lanes (one lane for each direction).
The Project consists of construction works to attain an all-weather asphalted road between Nyagatare and Rukomo with an approximate length of 73 kilometers, and a width of 7 meters (in addition to 1.5 meters for shoulders on each side), and consisting of two lanes (one lane for each direction).
Source : allafrica.com
