Saudi Arabia commits $20m for Rwanda’s Mega Electricity project
The Kingdom of Saudi Arabia says its providing a soft loan of $20 million to fund an ongoing electricity project in Rwanda that would help boost the country’s socio-economic development, the Press Agency yesterday reported.
The agreement was signed between the Saudi Fund for Development’s CEO, Sultan Al-Marshad, and Rwanda’s Minister of Finance and Economic Planning, Ndagijimana Uzziel, in Kigali.
The aim of the electricity project is to build a network of medium- and low- voltage lines, together with power distribution transformers, for homes and government social services in Rwanda’s Kamonyi region.
It is believed that 60,000 people in the African country are expected to benefit from the electricity provision. It would also enhance various job creation projects in agriculture and other industries.
According to AI-Marshad, the project would improve Rwanda’s electricity infrastructure and enhance sustainable social and economic development in the country. “SFD has been working effectively with Rwanda for the past 47 years,” he added.
Saudi Arabia has supported Rwanda since 1976, and through the SDF, has extended 11 developmental loans worth $121 million to the country, for various vital developmental projects.
