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· The European Union (EU) has signed an agreement for 10 million euros with Rwanda
· The financing will be dedicated to the improvement of the country’s private sector development and job creation
The European Union (EU) has signed an agreement for 10 million euros with Rwanda. The financing will be dedicated to the improvement of the country’s private sector development and job creation.
In a statement issued by the Ministry of finance and economic development, it was reported that the grant was part of the 460-million-euro package of support to Rwanda running til the end of 2020.The programme will focus on sectors with potential for job creation for the youth particularly sectors like the digital economy and tourism hospitality, which have the potential for fast and continuous private sector growth and job creation.
The statement also added that COVID 19 has led to severe fall in private sector operations affecting livelihoods and leading to job losses. It is hoped that the EU support will generate market-relevant skills as well as enhancing technological innovations. Rwandan government targets to create 1.5 million jobs by 2024. Speaking about the initiative, Nicola Bellomo, the head of the EU Delegation to Rwanda, said that the pandemic has demonstrated that without a strong digital sector, it is difficult to adapt to the new world normal. The support he said was timely to fill the gaps within the digital ecosystem in Rwanda.
