On the 7th of November 209, Kigali, capital of the Republic of Rwanda witnessed the signing loan agreement between the Republic of Rwanda and the Arab Bank for Economic Development in Africa (BADEA). By virtue of this agreement BADEA extends to Rwanda a loan of US $ 10 million to help finance Increase Electricity Access in three areas project.

The project fall under the framework of the government plan to improve the living condition of its people and combat poverty by providing access to electricity for urban and rural households and for commercial, agricultural and industrial activities in the project areas, which will contribute to the economic and social development in the country.

The agreement signed, on behalf of BADEA, by H.E. Mr. Abdelaziz KHELEF Director General and by H.E. Mr. James MUSONI, Minister of Finance and Economic Planning for Rwanda.

The loan will be repaid in 30 years including a grace period of 10 years and at an annual interest rate of 1%.