July 24, 2018 / 7:48 AM / a month ago

Rwanda signs $300 million in loan deals with China and India

KIGALI (Reuters) - Rwanda signed loan agreements worth more than $300 million (229 million pounds) with China and India to fund roads and irrigation, officials said, as leaders from the two Asian powers made their first visits to the East African nation.

Chinese President Xi Jinping and Rwanda's President Paul Kagame address a news conference during his visit to Kigali, Rwanda July 23, 2018. REUTERS/Jean Bizimana

Chinese President Xi Jinping visited Rwanda from Sunday to Monday and granted a loan to build two roads. India’s Prime Minister Narendra Modi arrived on Monday on the way to a summit in South Africa and agreed $200 million in loans.

“With India we signed a loan of $100 million for irrigation in three separate areas in the country and $100 million for developing special economic zones,” Rwanda’s minister of finance Uzziel Ndagijimana told Reuters.

“With China we signed a loan agreement of $76 million for the road from Huye to Kibeho and for the new Bugesera airport access road it is $50 million,” Ndagijimana said.

Reporting by Clement Uwingiriyimana; Editing by Duncan Miriri and Andrew Heavens

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below