African bank OKs $29.6M loan to Rwanda



The African Development Bank announced the approval of a $29.6 million Poverty Reduction Budgetary Assistance (ABRP) to Rwanda from the African Development Fund. The funding shall support the implementation of the fifth National Development Plan to alleviate poverty and improve service delivery, covering macroeconomic management, public sector reform, wealth creation and social equality. Under the program, Rwanda targets six percent annual GDP growth, lower inflation rate, reduced national loan and foreign debt control. The ADF shall also support the reform of the country?s market transfer system and debt management.

Source: ADF approves $29.6 million loan to fight poverty in Rwanda (Angola Press)

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