EU grants Kigali €52 million for budget deficit

UN Office for the Coordination of Humanitarian Affairs
Tuesday 15 November 2005

RWANDA: EU grants Kigali €52 million for budget deficit


©  EU

KIGALI, 29 Apr 2005 (IRIN) - The European Union has given Rwanda a €52-million (US $67-million) grant to finance the country's budget deficit, an official told IRIN on Friday.

An attaché at the EU mission in Kigali, Genevieve Anne Dehoux, said the grant would also help the country to improve its road network.

This is in addition to a €124-million ($159.92 million) EU grant Rwanda over a five-year period.

"We had a midterm review in which we examined performance and found that the money was well utilised, that's why the EU decided to increase the amount," Dehoux said.

Under budget support, Rwanda plans to use the money to implement poverty reduction strategies in the country in which over 50 percent of its 8.4 million people live on less than a dollar per day.

The EU's support for Rwanda, running from 2002 to 2007, now amounts to €176 million ($226.98 million).

[ENDS]

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