Rwanda and the International Monetary Fund ​have ⁠reached an agreement for a ‌new 38-month extended credit facility worth $250 million ​aimed at supporting the country's economic policies ​and reforms, ​they said on Thursday.

The Fund's executive board will meet ⁠in June to approve the agreement, Albert Touna Mama, IMF Mission Chief for Rwanda, told a ​news ‌conference.

Finance ⁠Minister Yusuf ⁠Murangwa said some of the funds would ​help Rwanda manage ‌the increase in ⁠fuel and fertiliser prices resulting from the Iran conflict.

"When it comes to fertiliser... if (the government) does not intervene, prices could rise sharply and that would be a serious problem," Murangwa told ‌the news conference.

The East ⁠African nation's economy has ​grown robustly, with the finance ministry forecasting annual growth exceeding ​7% through 2028.

(Reporting ‌by Philbert Girinema; ⁠Writing by George ​Obulutsa; Editing by Jan Harvey)