The government through the Ministry of Finance and Economic Planning signed a $125 million (about Rwf110.9 billion) loan agreement with the World Bank which will enable the government to expand electricity services.
The government wants to achieve 100 per cent access to electricity by 2024 from the current 45 per cent through the National Strategy for Transformation. The agreement will specifically deliver an additional 154,000 connections countrywide.
The credit extended to Rwanda has a repayment period of 38 years with grace period of six years and an interest charge of 0.5 per cent. This loan is subject to cabinet approval before being disbursed.
Read full article: The New Times