The Senate president, Bernard Makuza has announced that Prime Minister Narendra Modi’s visit to Rwanda later this month, the first by an Indian premier, will bolster the bilateral ties of the two countries.
Makuza who was in India on an official visit on the invitation of Vice President Venkaiah Naidu, revealed that Rwanda was seeking collaboration with India in sectors such as Agriculture and energy.
“I know him from Gujarat, he is a willful person…It is possible that some agreements may be signed during his visit and it will be a “big boost” between the bilateral ties of the two countries.” Makuza said
“Rwanda is looking towards a partnership with India in sectors such as Agriculture, Industries, Economy, Health, Eduacation and Energy. Our government has positioned some resolutions that will facilitate the Private sector in their investments.” He added
Makuza also hinted that India and Rwanda would “very soon” sign a double taxation avoidance agreement.
The Cooperation between Rwanda and India was established in 2011 with the signing of an 80m USD line of credit for the Nyabarongo hydro power project currently on the grid and expected to generate about 27MW. The project was completed and handed over to Government in early 2015. In 2013 a US$ 120.05 million loan was extended for the Export Targeted Modern Irrigated Agricultural Project in Kirehe District. In May 2017, The Government of Rwanda and EXIM Bank India signed an LOC worth 81 million dollars. This money will be used for the construction of modern training and production workshops, including equipment for 10 new vocational training centers and four business incubation centers.
Earlier this year, in May, Rwanda and India signed a concessional loan agreement worth US$66.60 million (Approximately Frw 56 billion) for the construction of the Base- Butaro-Kidaho road Project.
The Express News