Signature of a Loan Agreement for Kuwaiti Dinars KD 4,500,000 for Financing the Nyagatare-Rukomo Road Project in the Republic of Rwanda

Kuwait Fund
Signing of a Loan Agreement in the Amount of US$ 21 Million for the Participation in Financing of the Deposit and Development Fund Operations Project in the Islamic Republic of Mauritania
10 December 2015
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Kuwait Fund For Arab Economic Development (Kuwait City)
press release

A Loan Agreement was signed today in Kigali between the Republic of Rwanda and Kuwait Fund for Arab Economic Development whereby the Fund will extend a loan of Kuwaiti Dinars Four Million and Five Hundred Thousand Kuwaiti Dinars (K.D. 4,500,000/-), approximately 15.3 million US Dollars, to help finance the Nyagatare-Rukomo Road Project.

The Loan Agreement was signed on behalf of the Republic of Rwanda by H.E. Mr. Claver Gatete - Minister of Finance and Economic Planning and on behalf of the Fund by Mr. Hesham Al-Waqayan, Deputy Director-General of the Kuwait Fund for Arab Economic Development in attendance of Mr. Abdul-Rahman Al-Hashim, Regional Manager for Central, East and South African countries.

The aim of the Project is to enhance the economic and social development of the Northern and Eastern Provinces of Rwanda, and at the same time to participate in linking Rwanda with the Republic of Uganda and the Democratic Republic of the Congo.

The Project consists of construction works to attain an all-weather asphalted road between Nyagatare and Rukomo with an approximate length of 73 kilometers, and a width of 7 meters (in addition to 1.5 meters for shoulders on each side), and consisting of two lanes (one lane for each direction).

Driving Africa's Development: The Kuwait Fund in 2015

Driving Africa's Development: The Kuwait Fund in 2015

Since its inception, the Kuwait Fund has extended loans totalling over $16.5 billion to 899 countries. Several grants and technical assistance packages have been distributed to countries and institutions totalling more than $400 million. No less than 20 percent of the monies that the Kuwait Fund distributes is destined for African countries. 

The Project consists of construction works to attain an all-weather asphalted road between Nyagatare and Rukomo with an approximate length of 73 kilometers, and a width of 7 meters (in addition to 1.5 meters for shoulders on each side), and consisting of two lanes (one lane for each direction).

The Project shall include the following components:

  1. Earthworks, paving layers, bridge works, drainage facilities, safety measures, and environmental protection works.
  2. Consultancy services for the review of the detailed engineering design and supervision of construction.
  3. Institutional support consisting of providing two 4x4 vehicles, two office computers, two printers, site office furniture, and the in-land training of 15 personnel from the Implementing Agency.
  4. Land acquisitions.

The Project is expected to be completed by mid 2019.

The loan represents the ten loans by Kuwait Fund to the Republic of Rwanda, as the Fund already made nine loans to the Republic of Rwanda with a total amount of Kuwait Dinars 25.1 million for the financing projects in transport, irrigation and education sectors. The Fund also provided grants and technical assistance amounting in total to about Kuwait Dinars 93,000 to the Republic of Rwanda.

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