World Bank gives $6m to Rwanda

by Richard Kilner

Story link: World Bank gives $6m to Rwanda

Yesterday a further $6m grant was approved by the World Bank to be channelled into the Rwanda Competitiveness and Enterprise Development Project.

The money is in addition to the initial investment of $40m, made seven years ago for the International Development Association.

The CEDP’s aim is to lessen poverty through the promotion of the private sector in Rwanda.

Streamlining the business environment, bolstering utilities and communications systems in terms of efficiency and cost and creating better services, particularly of a financial nature, available to budding businessmen.

The $6m grant is aimed specifically at improving the financial sector within Rwanda through supporting the Financial Sector Development Program of the Rwandan government.

The FSDP has a number of goals, including the improvement of financial regulation and superior auditing.