The European Union Monday signed a financing agreement with Rwanda for a grant of 52.87 million euro (about 55.5 billion francs) to support the country’s social protection coverage and agriculture in response to the COVID-19 crisis.
The funding is to support Rwanda to expand social protection and promote agriculture supply chains in the context of the government`s COVID-19 economic recovery plan through increased cash transfers and food assistance to citizens in Rwanda, the Ministry of Finance and Economic Planning said in a statement.
In total, the program will help protect food security and livelihoods of at least 630, 000 households most in need, the statement said.
“The impact of COVID-19 on our economy and livelihoods in particular has called for enhanced social protection measures by ensuring that we maintain sustainable food security, reduce poverty and promote inclusive growth,” Uzziel Ndagijimana, the Rwandan Minister of Finance and Economic Planning said in the statement.
The EU Ambassador Nicola Bellomo said the funding came as part of the broader European Union team response support to partner countries. 0783737366
The money is part of the EU 460 million euro package of support to Rwanda signed in September, 2014 with European Commission. The disbursements will be provided in two fixed tranches of 36 million euro and 15.5 million euro respectively during the fiscal year 2019-20 and 2020-21 based on satisfactory progress on the implementation of the economic recovery plan, in particular the social protection and agriculture part, according to the statement.