ADFD signs $15mn loan agreement with Rwanda government for key road project
Rubengera-Muhanga road project will link the two cities and facilitate economic growth and trade
The Abu Dhabi Fund for Development (ADFD) has signed a loan agreement with the government of Rwanda to provide a $15 million concessionary loan to finance the construction and development of the Rubengera-Muhanga road project, which stretches across a distance of 61 kilometres.
According to a WAM report, 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 report explained that 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 neighbouring countries.
Al Suwaidi pointed out that the agreement is a major stride forward in Rwanda’s efforts to achieve its strategic vision to boost economic activity and enhance the quality of life. He added that ADFD will continue working with Rwanda’s government, building on their 40-plus-year-old partnership, to accelerate its developmental drive.
Hategeka stated that the project will be a key pillar of Rwanda’s 2050 vision, as well as its efforts to drive their economy, as it helps support many sectors, noting that Rwanda values its ties with the UAE and ADFD’s support.
This is the second project ADFD has supported in Rwanda in a relationship that started in 1981 with the $3.8 million construction of the Kigali International Airport in the nation’s capital city. More development projects will be considered in the near future.
