China’s Deputy Minister of commerce Gao Hucheng has said that his government will support Rwanda with US$15.7 million in grants and loans to encourage economic development and trade.
He clarified that half of the amount will be in form of grant while the remaining half will be five-year interest-free loan.
Hucheng acknowledged Rwanda’s development progress adding that his country will continue offering its support. He further emphasized that trade between the two countries doubled to US$76.4 million in the first half from a year earlier.
“China also plans to build a government administrative building, a 25-kilometer road in Kigali and provide medical devices and pharmaceuticals to Rwanda, as well as providing support for exports to China,” he assured the minister.
“On top of the 60 percent tariff-free treatment China already has granted to Rwandan exports to China, we will continue to help you to publicize and promote your products to the Chinese market,” Hucheng concluded.
The minister of foreign affairs Louise Mushikiwabo hailed the country’s cooperation with China adding that Rwanda was still improving its business environment which would favor investors, especially those from china.
She asked Hucheng to encourage more investors from his country to set their business in Rwanda. “Even though there’s a rise in Chinese investments, it’s still low and on behalf of the investment authority we request you to encourage more investments here,” the minister stressed.
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