Asian giants lend Rwanda $300m

24 Jul 18

Rwanda has signed loan agreements worth more than $300m with China and India to fund road building and develop irrigation, officials have said.

The deals were made as leaders of the two Asian countries made their first visits to the East African nation, Reuters reported.

Chinese president Xi Jinping visited the African country from Sunday to Monday and promised a loan to build two roads.

Narendra Modi, India’s prime minister, visited on Monday and agreed $200m in loans.

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

He added: “With China we signed a loan agreement of $76m for the road from Huye to Kibeho and for the new Bugesera airport access road it is $50m.”

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