M a r k e t N e w s

East Africa: KFAED signs US$15mn agreement for road development

Posted on : Saturday, 19th December 2015

 The Rwandan government and the Kuwait Fund for Arab Economic Development (KFAED) have signed a US$15mn concessional loan to support the construction of the Nyagatare-Rukomo road project in Rwanda

roadconstruction klinkow pixabayRwanda, which is a landlocked nation, is in dire need of good roads to improve intra and inter-country connectivity. 
The project entails a seven metre-wide and 73 kilometre-long two-lane tarmac road between Nyagatare and Rukomo in eastern Rwanda. The road extension and development is part of a larger project – the 124.8 km-long Base-Nyagatare road project, expected to cost US$88.5mn, said the Ministry of Finance and Economic Planning in Rwanda.
Through the road development, parts of the landlocked East African nation will have improved access to neighbouring countries. “This road will reduce transport costs and mobility in general. It is also expected to facilitate access to markets, create employment opportunities, foster regional trade and overall lead to poverty reduction,” said Claver Gatete, minister of finance and economic planning in Rwanda.
Rwanda and KFAED goes back four decades, with KFAED helping Rwanda is areas such as infrastructure, education and health.

Source : africanreview.com
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