Rwanda signs $125 million energy deal with World Bank

The Government of Rwanda and the World Bank have signed a $125 million credit agreement that will cater for the expansion of electricity services in the country.

The new Rwanda Energy Development Policy Operation (DPO) is the third and last of a $375 million programme series aimed at supporting the country’s energy sector objectives contained in the National Strategy for Transformation (NST1).

The first was approved in December 2017.

The country’s Minister of Finance and Economic Planning, Dr. Uzziel Ndagijimana says that this agreement has contributed to improving the energy sector especially in the area of access.

According to the World Bank Country Manager, Said Yasser El-Gammal, the funds are already being put to good use with previous development policy operation series having already delivered results.

“So far, new connections completed per year have doubled, while total access has increased from 41 per cent in late 2017 to over 52 per cent today,” he said.

Rwanda targets electricity access of 61 per cent of the households by the end of 2020.