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Rwanda receives $120m World Bank loan

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Kigali: Rwanda has received $120 million World Bank loan to enhance, improve and promote skills development.

The landmark financial agreement was signed between the Minister of Finance and Economic Planning Amb. Claver Gatete and Yasser El-Gamal the Country Manager for the World Bank Group in Rwanda on July Monday 17, 2017 in Kigali.

The World Bank loan is to be used in a period of three years according to the financial year 2017/18,2018/19 and 2019/2020, for skill development.

Minister Gatete has explained that World Bank loan will be invested in strengthening the energy and industrial sectors specifically in the enhancement and promotion of made in Rwanda products.

These funds will be utilized during the respective fiscal three years 2017/2018, 2018/2019 and 2019/2020, for skills development and mainly focusing on what is required on the job market. (End)



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