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This is an archive of press releases. Choose a month to view press releases from that time.

JBSR MEETING

Posted on 09. May, 2012 by brice.rukirande Categories: Ministry, External Resource Mobilization & Monitoring of Aid

May 8th, 2012 - The 15th Joint Budget Support Review (JBSR) chaired by the Permanent Secretary and Secretary to the Treasury, Kampeta Sayinzoga, took place at the Ministry of Finance and Economic Planning (MINECOFIN). The JBSR, co-chaired by Germany, planned for the strategic priorities and budget allocations to support the implementation of the Economic Development and Poverty Reduction Strategy Two (EDPRS II) and the medium term (until fiscal year 2014/15).

It was convened by the Government of Rwanda and the Development Partners (DPs) to provide general and sector budget support that together form the Budget Support Harmonization Group (BSHG).

The forward looking review also discussed strategic issues relevant in the medium term with specific. The mostly related to the EDPRS II with projects such as the its overall framework, private sector development, energy, and building of feeder roads.

Government of Rwanda and European Union sign further development cooperation package of €89 million for Rwanda

Posted on 09. May, 2012 by brice.rukirande Categories: Minister, Ministry

The European Union (EU) will provide additional funding for its cooperation programme with Rwanda under the 10th European Development Fund for a total of €89 million. The funds have been agreed after a mid-term review of the country strategy earlier on and a Millennium Development Goals initiative launched by the European Commission at the UN summit in New York in September 2010.

Minister of Finance and Economic Planning, John Rwangombwa, said that the additional funding supports Rwanda and the European Union’s cooperation. “Partnerships like the one we have with the EU is fundamental in achieving the broad based economic transformation that we continue to see here in Rwanda. As we get closer to reaching the Millennium Development Goals, we continue to structure our economic plans that will show the largest level of change for our entire nation.”

BSHG Meeting

Posted on 20. Apr, 2012 by brice.rukirande Categories: Ministry

KUWAIT Signing Lot 6 Kivu Belt

Posted on 20. Mar, 2012 by brice.rukirande Categories: Ministry, External Resource Mobilization & Monitoring of Aid

Today, Wednesday, 20thMarch 2012, the Government of the Republic of Rwanda through the Ministry of Finance and Economic Planning (MINECOFIN) signed a 4 million Kuwaiti Dinar loan agreement (approximately USD 14,400,000) with the Kuwait Fund For Arab Economic Development (KFAED).

During the fundraising round table for Kivu Belt Multinational Road held on the sidelines of the 9thGovernment of Rwanda Development Partners Meeting (DPM) November 2010 in Kigali, KFAED pledged USD 13,000,000 to co-finance Lot 6, Rubengera-Gasiza of the Road project. The KFAED during its 1stsession of 2012 on 5thMarch approved an increase of the committed loans of USD 14,363,268.76.

OFID Signing Lot 6 Kivu Belt

Posted on 12. Mar, 2012 by brice.rukirande Categories: Ministry, External Resource Mobilization & Monitoring of Aid

Today, Wednesday, 7thMarch 2012, at its Offices in Vienna, the Opec Fund for International Development and the Ministry of Finance and Economic Planning representing the Government of Rwanda, signed a Loan Agreement.

The aforementioned Loan Agreement amounting USD 11 million is to co-finance Lot Nº 6, Rubengera-Gisiza on multinationalBujumbura-Rusizi-Karongi-Rubavu (Burundi-Rwanda) Road. The section of Rubengera-Gisiza is of 23.6 Km long for a total cost of USD 52.7 Million. 

Press Release on the signing for the financing of Sustainable Woodland Management and Natural Forest Restoration project between the Government of Rwanda (GoR) and African development Bank behalf of Congo Basin Forest Fund (CBFF)

Posted on 14. Feb, 2012 by brice.rukirande Categories: Minister, Ministry, PS

Kigali, Monday 13th February, 2o12 the Government of the Republic of Rwanda through the Ministry of Finance and Economic Planning (MINECOFIN) has signed a Financing Agreement with the African Development Bank, acting on behalf of the Congo Basin Forest Fund (CBFF) for an amount totaling EUR 4.59 million to support the Sustainable Woodland Management and Natural Forest Restoration project in Rwanda. The signing was made between Hon. John Rwangombwa, Minister of Finance and Economic Planning and Mr. Negatu Makonnen, the AfDB resident Representative.
The objective of the above-mentioned project is to contribute to reducing deforestation and poverty in the Congo Basin, specifically to (i) increase forest cover and improve the living conditions of forest-area dwellers and (ii) to create basic conditions that would win for Rwanda the eligibility for carbon market benefits and payment for ecosystem services. The duration of the project will be three years.

The IMF Board Completed Third Review of Rwanda’s Policy Support Instrument

Posted on 23. Jan, 2012 by jeanine.umugwaneza Categories: Macro Economic, Government Chief Economist

The three reviews under the Policy Support Instrument (PSI) for Rwanda have been completed successfully, with tremendous achievements at each review. The third and most recent review was concluded by the Executive board of the International Monetary Fund (IMF) on January 9, 2011.

STANDARD & POOR’S RWANDA FIRST SOVEREIGN RATING

Posted on 30. Dec, 2011 by jeanine.umugwaneza Categories: Macro Economic, Ministry

 Yesterday, December 30, 2011, Standard and Poor’s (S&P) announced the results of its first sovereign rating assessment of the Republic of Rwanda. Based on their assessment, S&P assigned a ‘B’ rating with a positive outlook. S&P’s positive outlook rating comes as an upgrade compared to Fitch’s stable outlook in its August 2011 sovereign rating that had also assigned a ‘B’. The positive outlook reflects S&P’s view that they could raise the ratings in 2012 or 2013.

GoR signs USD 37.6 million with AfDB to finance Poverty Reduction Strategies

Posted on 19. Jul, 2011 by jeanine.umugwaneza Categories: External Resource Mobilization & Monitoring of Aid, Government Chief Economist

Tunis, 18 July 2011- The GoR represented by the Ministry of Finance and Economic Planning signed with African Development Bank a grant support of USD 37.6 Million to support the Poverty Reduction Support Programme for the FY 2011/12 to finance Proverty Reduction strategies under EDPRS.

The PRSSP-IV is aligned to the Rwanda’s EDPRS but also the AfDB’s s Country Strategy Paper (CSP) 2008-2011, is an important contribution in line with enhancing public finance management and improves institutional capacity for the provision of quality services needed to support accelerated and broad-based economic growth. It will also enhance achievement of sustained economic infrastructure investment, export promotion, favorable macroeconomic environment, improved business environment for competitiveness private sector development and overall poverty reduction.

Press Realease: Budget Support Harmonization Group Meeting

Posted on 29. Jun, 2011 by jeanine.umugwaneza Categories: External Resource Mobilization & Monitoring of Aid, PS, Media Centre

June, , 28th 2011, in the MINECOFIN Boardroom, the Budget Support Harmonization Group chaired by PS/ST in the Ministry of Finance and Economic Planning and Co-Chaired by EC held its ordinary quarterly meeting and discussed a wide range of issues including adopting the DPAF 2010/11 targets for Budget Support  and discussed progress in conducting EICV and DHS.

The meeting took note of the progress so far realized and the NISR committed to release the survey reports by end of 2011. The BSHG also discussed the roadmap to JBSR backward looking exercise and requested further discussion on the up-date of EDPRS review in the next DPCG scheduled July 2011.

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