Rwanda and the People’s Republic of China this Friday signed an economic and technical cooperation grant and a debt cancellation agreement to cushion Rwanda’s economy through the impact of the COVID-19 pandemic.
The grant agreement worth
Renminbi (RMB) Yuan 400 million (approximately $60 million) and a debt cancellation agreement worth RMB Yuan 40 million (approximately $6 million) were signed by Dr. Uzziel Ndagijimana, Rwanda’s Minister of Finance and Economic Planning and Rao Hongwei, the Ambassador of China to Rwanda.
Minister Ndagijimana said the debt cancellation will free Rwanda of the economic growth burden that has been caused by COVID-19 pandemic, a period that is challenging many African economies including Rwanda.