{ {{The government of Rwanda and the World Bank have signed the financial agreement of 26 million US$ dollar(Rwf19billion) to facilitate its cross-border trade between Rwanda and Democratic Republic of Congo (DRC).}} }
The loan is part of International Development Association(IDA) to provide aid and loan equivalent to 79 million US$ in the region as it was approved by the World Bank Group’s Board of Executive Directors for six regional countries.
IDA Supports anti-poverty programs in the poorest developing countries with long-term, no interest loans.
The fund will support Great Lakes Trade Facilitation Project to smooth the progress of traders including the majority of business women doing business across Rwanda and DRC border.
Throughout the ceremony of signing the contract, Ambassador Gatete Claver, the Minister of Finance and Economic Planning (MINECOFIN) said that Rwanda heads towards Western part unlike the past dominated by cooperation with Tanzania and Uganda.
Talking to the usage of the fund Ambassador Gatete said “The fund will help to renovate Kanombe airport and support cross border trade between Rwanda and Democratic Republic of Congo, which is practiced unlawfully.It is profitable for cross border traders, especially women.”
“We are looking forward to improve requirements on the border to help traders generate profit from their business.”He added.
The project will not only help Rwandans but also Congolese will benefit from it.
Carolyn Turk, the representative of World Bank in Rwanda stressed the need to prioritize trade in landlocked countries.
“I am delighted with the support Rwanda is receiving to promote cross border trade in the Great Lakes Region.It is a project of 79 million US$ of which 26 will be transferred to Rwanda to facilitate cross border investment.”He said.
She also noted that the fund will facilitate between 20,000 and 30,000 women crossing the minor border known as (Petite Barrière) in Rubavu district.
As she said, Rusizi district is subjected to be recognized within the budget of the fund.
Renovations of Kamembe airport will take 14.2 million US$ to the extent that it gets capacitated to work day and night within the region.
The fund will help in the construction of markets in Nyamasheke and Rusizi districts to ease commerce of agricultural products. Five million US$ will be spent on such activities expected to bring a powerful market and empower farmers carrying loads on their heads.
Other activities include projects providing youth’s occupation, boosting agricultural production in a bid to eradicate poverty as well as advancing service delivery across borders.
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