ABU DHABI - Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the Government of Rwanda to provide an AED 55 million (US$15 million) concessionary loan to finance the Rubengera-Muhanga road project, which stretches across 61 kilometres.
The loan agreement was signed by Mohammed Saif Al Suwaidi, Director-General of ADFD, and Emmanuel Hategeka, Rwanda's Ambassador to the UAE, in the presence of Khalifa Abdullah Al Qubaisi, Deputy Director-General of ADFD, and a number of senior officials from both sides.
The project aims to renovate and expand the road linking the two cities to enhance traffic flow between them, as well as facilitating the people's access to social, health and educational services, driving economic sectors, such as agriculture, tourism, and transportation, and bolstering trade between Rwanda and neighboring countries.
Al Suwaidi said that the agreement serves as a major stride in Rwanda's efforts to achieve its strategic vision to boost economic activity and enhance the quality of life, adding that ADFD will continue working with Rwanda's government, building on their 40-plus-year-old partnership, to accelerate its developmental drive.
For his part, Hategeka stated that the project is a key pillar of Rwanda's 2050 vision, as well as their efforts to drive their economy, as it helps support many sectors, noting that Rwanda values its ties with the UAE and ADFD's support.
© Copyright Emirates News Agency (WAM) 2021.