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[Rwanda Forum] Rwanda secures $1 bln funding deal with South Korea | Reuters

Rwanda secures $1 bln funding deal with South Korea | Reuters

https://www.reuters.com/world/africa/rwanda-secures-1-bln-funding-deal-with-south-korea-2024-07-05/#

Rwanda secures $1 bln funding deal with South Korea

July 5, 20249:34 AM EDTUpdated 2 days ago

KIGALI, July 5 (Reuters) - Rwanda's Finance Ministry said on Friday that South Korea has awarded it $1 billion in concessionary loans to fund projects in several sectors including transport, healthcare, and education.

The agreement for 2024-2028 doubles and replaces a previous four-year $500 million deal that was expected to finish at the end of 2026, the finance ministry said in a statement.

Rwanda's government said in May that a total of 1.32 trillion Rwandan francs ($1.02 billion) in the 2024/25 budget would come from external loans.

Rwanda's President Paul Kagame was among African leaders who attended a summit in South Korea in early June, that included meeting the country's President Yoon Suk Yeol.

($1 = 1,299.7000 Rwandan francs)

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Reporting by Philbert Girinema; Editing by George Obulutsa and Alexander Smith

Our Standards: The Thomson Reuters Trust Principles.

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“Uwigize agatebo ayora ivi”. Ubutegetsi bukugira agatebo ukariyora uko bukeye n’uko bwije.

"Ce dont j’ai le plus peur, c’est des gens qui croient que, du jour au lendemain, on peut prendre une société, lui tordre le cou et en faire une autre."

“The price good men pay for indifference to public affairs is to be ruled by evil men.”

“The hate of men will pass, and dictators die, and the power they took from the people will return to the people. And so long as men die, liberty will never perish.”

“I have loved justice and hated iniquity: therefore I die in exile."

“Uwigize agatebo ayora ivi”. Ubutegetsi bukugira agatebo ukariyora uko bukeye n’uko bwije.

"Ce dont j’ai le plus peur, c’est des gens qui croient que, du jour au lendemain, on peut prendre une société, lui tordre le cou et en faire une autre."

“The price good men pay for indifference to public affairs is to be ruled by evil men.”

“The hate of men will pass, and dictators die, and the power they took from the people will return to the people. And so long as men die, liberty will never perish.”

“I have loved justice and hated iniquity: therefore I die in exile."