MINECOFIN

MINISTRY OF FINANCE AND ECONOMIC PLANNING

REPUBLIC OF RWANDA

World Bank -Government Sign $125 Million for Fiscally Sustainability of Electricity Services

Posted on 16.11.2018

Today, Government of Rwanda and World Bank signed a US$ 125 million (approximately 110.9 billion Frw) Development Policy Operation (DPO) credit agreement to support a fiscally sustainable expansion of electricity services in Rwanda. 

The Energy Sector Development Policy Operation is the second in a programmatic series of three DPOs and is built around two pillars: (a) containing fiscal impact of the electricity sector; and (b) improving operational efficiency, affordability, and accountability of electricity service, all enshrined under Rwanda’s current seven-year development plan, the National Strategy for Transformation 2017-2024. 

After the Signing, Minister of Finance and Economic planning said “The first operation of the series ($125 million) was disbursed in December 2017 and allowed to double the annual connections to 154,000 in FY2017/18 from an average of 74,000 per year during 2012–2016.”  

World Bank Group Country Manager, Yasser El- Gammal said “This series supports the Government Program to contain fiscal impact of the electricity sector and improve the operational efficiency, affordability, and accountability of electricity service, enshrined under Rwanda’s current seven-year development plan” 

The new program will increase energy access in the country by 154,000 new connections in 2018/2019 fiscal year. It will also address energy challenges, including lowering cost of energy, increased efficiency and revenues of EUCL.


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