- Rwanda’s policy and institutional reform program for human capital development and inclusive economic growth will get a boost from International Development Association (IDA) financing to the tune of $175 million.
- The World Bank’s Board of Directors last week approved the IDA financing package of $87.5 million IDA grant and $87.5 million IDA credit
- This funding is the second in a series of three development policy financing operations.
Rwanda’s policy and institutional reform program for human capital development and inclusive economic growth will get a boost from International Development Association (IDA) financing to the tune of $175 million. The World Bank’s Board of Directors last week approved the IDA financing package of $87.5 million IDA grant and $87.5 million IDA credit. This funding is the second in a series of three development policy financing operations. The first one amounting to $150 million was approved in December 2020.
The program is designed to promote strong multi-sectoral collaboration between several government ministries and institutions to help them collectively deliver key results. It will facilitate human capital development by enhancing families’ access to health, nutrition, education, and social safety net services. The other features of the program include providing equitable opportunities for poor and vulnerable households to invest in their human capital, empowering women, and developing strong governance and accountability mechanisms at the decentralized levels.
The reform program as per reports has delivered good results that are reflected in an increase in human capital-focused social safety net interventions, integrated early childhood development services and so on. The health sector financing reforms led to community-based health insurance for over 85 percent of the target population against 69 percent in 2020. The program also issued emergency cash support to households to help tide over losses of income during the pandemic.
