The African Development Board (AfDB) has issued a loan to the government worth US$ 61 and a grant of approximately US$ 7 million. The amount will be used in the construction of a 47.9 Kilo Meter road between Rubavu and Gisiza districts.
Signing the agreement on behalf of the government, Kampeta Sayinzoga, the permanent secretary in the Ministry of Finance and Economic Planning (MINECOFIN), commended the funds adding that it was the phase three of AfDB to the road which is part of the Kivu belt.
“The first and second phases saw the construction of 100KM route connecting Ruhwa-Cyangugu-Ntendezi –Mwityazo with a financing of approximately US$99 million,” said Sayizonga.
AfDB representative Negatu Makonnen, noted that the bank has better cooperation with the government. “I am pleased to note that with the signing of the two agreements today, our lending portfolio stands at about US$430 million, in various public and private sectors . The transport sector investments alone account for over 40% of this amount,” he said.
The project is expected to facilitate intra-regional trade along the North-South corridor connecting the Democratic Republic of Congo, in addition boosting tourism along the Kivu belt located in the western province.