The Saudi Fund for Development (SFD), represented by its CEO, Mr. Sultan bin Abdulrahman Al-Marshad, with the Rwandan Minister of Finance and Economic Planning, Dr. Uzziel Ndagijimana signed an agreement for a concessional development loan of $20 million to finance the electricity delivery project in the Kamonyi District.
The project aims to build a network of medium and low-pressure power lines and electricity distribution transformers to provide electricity to households, public institutions, and social facilities in the Kamonyi District. This project is part of a wider Energy Access and Quality Improvement program whose objective is to improve access to reliable and cost-effective electricity services for several of the most underserved areas in the country. This program will benefit approximately 60,000 people and enhance economic, agricultural, and industrial activities, create direct and indirect employment opportunities, improve livelihoods, support Rwanda’s economic growth, and promote sustainable living.
During the signing ceremony, Sultan Al-Marshad, stressed the importance of this project, which will support the Kamonyi region with electricity infrastructure and enhance sustainable economic and social development in Rwanda. He also praised the 47-year development of relations between SFD and Rwanda.
The Minister of Finance and Economic Planning, Dr. Uzziel Ndagijimana noted that the financing will contribute to electrification efforts in Kamonyi District which currently stands at 58.9%. At the completion of this project, electricity access in Kamonyi District will increase by 6.8%, thus contributing to increased economic and social development within the framework of our National Strategy for Transformation by connecting electricity to more households.