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Rwanda and Saudi Development Fund Sign $17 Million Loan Accords

Monday, 24 Jan 2011 11:56 AM

 

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Jan. 24 (Bloomberg) -- Rwanda and the Saudi Fund for Development signed two loan agreements for $17 million to develop infrastructure in the central African nation.

About $5 million will go to improving a road to the Nyungwe National Park and another $11.8 million will finance the expansion of the country’s electricity grid, Rwandan Finance Minister John Rwangombwa told reporters in the capital, Kigali, today.

The agreements bring the amount the Saudi Fund for Development has lent to Rwanda to about $78 million, said Yousef Ibn Ibrahim Al-Bassam, managing director of the fund.

--Editors: Philip Sanders, Emily Bowers

To contact the reporter on this story: David Malingha Doya in Kigali via Johannesburg at asguazzin@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

© Copyright 2014 Bloomberg News. All rights reserved.

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