Rwanda: The World Bank Approves US$115.6 Million For Poverty Reduction
The World Bank Board of Executive Directors today approved a total amount of US$115.6 million from the International Development Association (IDA), including US$29.5 million from the Crisis Response Window (CRW), to assist the Government of Rwanda with implementing key policy actions outlined in its Economic Development Poverty Reduction Strategy (EDPRS). Given Rwanda’s status as a blend country, US $15.2 million of the CRW funds is a grant and US $14.3 million is a credit. These funds have been disbursed as part of a series of the World Bank’s Poverty Reduction Strategy operations for Rwanda launched in 2002.
“Strengthening economic governance and improving implementation capacity are essential for laying the foundations of a strong and sustainable economic growth,” said Kene Ezemenari World Bank Senior Economist. “The World Bank is proud of its partnership with the Government of Rwanda which is leading to tangible improvements in the lives of ordinary Rwandans.”
The Sixth Poverty Reduction Support Grant (PRSG VI) will continue to support priority areas identified in the previous PRSGs including agriculture, infrastructure and social sectors.
Within this context, the grant will support growth for export and jobs by enhancing the skills of the population through improved quality of service delivery in post-basic education, in energy, transport and water sectors.
Key focus of the sixth PRSGVI is to increase participation of the private sector in the development of the agricultural sector as well as enhancing Rural Road Access by Improving the Condition of the Classified District Road network, strengthening the framework for private sector participation in the energy and water sectors, and support reforms to raise agriculture productivity.
The grant will help the Government of Rwanda to improve its economic governance and Implementation Capacity by increasing access to finance for the private sector; improve the accounting and internal audit functions; and develop the institutional and legal framework to support capacity development and transparency in procurement.