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Exim Bank funds projects worth USD 267 mn in Rawanda

Press Trust of India  |  Mumbai 

The Reserve Bank of India (RBI) Thursday said Exim Bank has provided soft loans of USD 266.60 million to Rawanda for various projects.

The funding, done in three separate tranches to Rawanda, is to support agricultural projects, development of special economic zones (SEZs) and for financing road project in the African nation.

According to the agreements, Exim Bank will provide USD 100 million for financing the development of two SEZs and expansion of the Kigali SEZ in Rwanda; USD 100 million for financing three agriculture project schemes -- Warufu Multipurpose Project, Mugesera Irrigation Project and Nyamukana Irrigation Project.

While USD 66.60 million will be funded for the Base-Butaro-Kidaho Road Project.

All the three funding project agreements between Exim Bank and the Government of Rawanda have come to effect from April 2, RBI said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 18 2019. 20:10 IST