The ADF helps improve Living Conditions in Rwanda
The three operations amounting to 36.66 million Units of Account (UA*), equivalent to 54.95 million US dollars will finance the Inland Lakes Integrated Development and Management Support Project (PAIGELAC) and the Poverty Reduction Strategy Support Loan phase 1.
The agreements were signed by Mr. Bisi Ogunjobi, the ADB Group Vice President for West and Central Operations and Mrs. Monique Nsanzabaganwa, Secretary of State in charge of economic Planning of Rwanda.
The loan of 13.76 million UA (20.62 million US dollars), and the grant of one million UA (1.50 million US dollars) will be used to finance the integrated inland Lakes project which involves strengthening food security and engineering sustainable improvement of the incomes of 50% of the fishing community in the area.
The project will support national capacity building in the sustainable management of water resources and improve hard currency earnings through progressive substitution of fish imports. It will also help create some 20,000 jobs in the fisheries sector.
The poverty reduction support project loan of 21.9 million UA, equivalent to 32.82 million US dollars is intended to reduce poverty through accelerated, balanced and sustainable growth by improving the productive and export sectors.
It will also help improve socio-economic infrastructures (health, education, water and electricity), promote and strengthen good governance as well as human and institutional capacities.
Speaking at the signing ceremony, Mr. Ogunjobi urged the government "to take all the necessary measures to actualize the agreements so that implementation of the projects will commence with minimum delay".
On her part, Mrs. Nsanzabaganwa affirmed the determination of the government to make sure that the funds are used appropriately. She also called for the opening of an ADB country office in Kigali.
The Bank has committed a total of 250 million US dollars in Rwanda since the end of the 1994 war in the country, Mr. Ogunjobi recalled.
*1 UC = 1.49878 $US as at 01/11/2004