Rwanda and the European Union (EU) on Wednesday signed a financing agreement for 10 million euros to support the country’s private sector development and job creation.
Ministry of finance and economic development said in a statement issued here that the grant is part of the 460-million-euro package of support to Rwanda for the period running until end of 2020.
“The program will address Rwanda’s needs to create employment opportunities for its youth. Activities will focus on two sub-sectors, namely the digital economy and tourism hospitality, which have the potential for rapid, sustainable private sector growth and job creation,” the statement said.
“The effects of COVID-19 pandemic heavily affected the private sector operations which in turn led to job losses and affected livelihoods. The EU support will contribute to easing this burden through provision of market relevant skills as well enhancing technological innovations,” the statement said.
Nicola Bellomo, the head of the EU Delegation to Rwanda, said the pandemic has demonstrated that without a strong digital sector, it is difficult to adapt to the new world normal.
Bellomo said the program is so timely to fill the gaps within the digital ecosystem in Rwanda.
The projects are expected to contribute to the government’s target of creating 1.5 million decent jobs by 2024, according to the ministry.
