The World Bank has given Rwanda $80 million (Rwf45.4 billion). The grant is in support ofthe national budget. This is the 5th grant under the Poverty Reduction Strategy Grant (PRSG).
The money will help to enhance the development agenda in support of the implementation of Rwanda’s development guide; the Economic Development and Poverty Reduction Strategy (EDPRS). In a statement, the World Bank Country Dire
ctor Victoria Kwakwa said, “This is the first time in the PRSG series that we are using the Common Performance Assessment framework (CPAF), a mechanism that has been agreed between the Government of Rwanda and all the budget support donors for harmonising assessment of Rwanda’s performance to underpin our support through the budget.”
Rwanda’s Finance and Economic Planning Minister James Musoni received the grant on behalf of the government. Minister Musoni stated that, “The grant is timely; we expect this form of assistance to enhance our national ownership, directly targeting quick reduction of poverty through pro-poor growth.” The money is intended boost the agriculture sector. It will help farmers to access loans through the Agriculture Guarantee Fund to increase their production especially in rural areas. It will also enhance access to energy, transport and creation of an attractive business environment. The education sector will benefit through investment in science and technology studies. According to Minister Musoni, the first disbursement will be made immediately after the parliament approves the grant, a process that is expected to happen within one week. The country’s current economic growth is projected at over 11 percent, the highest in the region. “This highlights the importance attached to EDPRS and we are confident that the support will make a difference in creating job opportunities and increase agricultural produce,” Kwakwa said.
The EDPRS is a medium term framework adopted by government as a modality of achieving its long term development agenda embodied in the Vision 2020.
Rwandan hotels to cut prices for EAC tourists
Rwandan hotels plan to offer a 20 percent discount on hotel room booking for visitors from the East African Community. Rwanda’s tourism office announced it is working on the modalities of this development with the Private Sector Federation (PSF) through its tourism chamber. This plan is a move to protect the industry from the effects of the current global crisis.
The Director of Tourism in Rwanda Development Board, Emmanuel Werabe, told local journalists that the proposal should be implemented in April. “Having 20 percent discount on hotel room booking is another way of attracting the regional clientele, especially from the East African Community (EAC) as we expect low tourist inflow from Europe and America,” he was quoted as saying. The 20 percent discount will be applied to EAC members, with a likelihood of dropping to 50 percent in low season. Before this, all clients paid the same hotel room booking cost. However, the Rwanda tourism office has not registered a fall in the number of tourists.
Private sector to set up new business code
Private Sector Federation (PSF) will establish a code of business ethics to govern its members. The code will stipulate obligations, responsibilities and ethical standards for all members of PSF, the umbrella organisation of all private businesses in Rwanda. The PSF Director of Capacity Building and Employment, Molly Rwigamba, said some businesses don’t recognise or practise business ethics, which tarnishes the image of the private sector. Among the malpractices include failure to execute business contracts satisfactorily.
The code’s scope shall apply to directors and managers of member companies, non-executive directors, and all company staff. It will also affect shareholders of the company.
However, business people are requested not to misunderstand the code as a tool for policing members but rather a means to provide correct ethical behaviour for the members. It is intended to enable employees make the right decisions, providing a positive source of public evaluation, reputation and trust and to be specific enough to deter unethical behaviour.
Source : www.independent.co.ug/index.php/news/regional-news/78-regional-news/765-world-bank-gives-grant-to-rwanda
The money will help to enhance the development agenda in support of the implementation of Rwanda’s development guide; the Economic Development and Poverty Reduction Strategy (EDPRS). In a statement, the World Bank Country Dire
ctor Victoria Kwakwa said, “This is the first time in the PRSG series that we are using the Common Performance Assessment framework (CPAF), a mechanism that has been agreed between the Government of Rwanda and all the budget support donors for harmonising assessment of Rwanda’s performance to underpin our support through the budget.”Rwanda’s Finance and Economic Planning Minister James Musoni received the grant on behalf of the government. Minister Musoni stated that, “The grant is timely; we expect this form of assistance to enhance our national ownership, directly targeting quick reduction of poverty through pro-poor growth.” The money is intended boost the agriculture sector. It will help farmers to access loans through the Agriculture Guarantee Fund to increase their production especially in rural areas. It will also enhance access to energy, transport and creation of an attractive business environment. The education sector will benefit through investment in science and technology studies. According to Minister Musoni, the first disbursement will be made immediately after the parliament approves the grant, a process that is expected to happen within one week. The country’s current economic growth is projected at over 11 percent, the highest in the region. “This highlights the importance attached to EDPRS and we are confident that the support will make a difference in creating job opportunities and increase agricultural produce,” Kwakwa said.
The EDPRS is a medium term framework adopted by government as a modality of achieving its long term development agenda embodied in the Vision 2020.
Rwandan hotels to cut prices for EAC tourists
Rwandan hotels plan to offer a 20 percent discount on hotel room booking for visitors from the East African Community. Rwanda’s tourism office announced it is working on the modalities of this development with the Private Sector Federation (PSF) through its tourism chamber. This plan is a move to protect the industry from the effects of the current global crisis.
The Director of Tourism in Rwanda Development Board, Emmanuel Werabe, told local journalists that the proposal should be implemented in April. “Having 20 percent discount on hotel room booking is another way of attracting the regional clientele, especially from the East African Community (EAC) as we expect low tourist inflow from Europe and America,” he was quoted as saying. The 20 percent discount will be applied to EAC members, with a likelihood of dropping to 50 percent in low season. Before this, all clients paid the same hotel room booking cost. However, the Rwanda tourism office has not registered a fall in the number of tourists.
Private sector to set up new business code
Private Sector Federation (PSF) will establish a code of business ethics to govern its members. The code will stipulate obligations, responsibilities and ethical standards for all members of PSF, the umbrella organisation of all private businesses in Rwanda. The PSF Director of Capacity Building and Employment, Molly Rwigamba, said some businesses don’t recognise or practise business ethics, which tarnishes the image of the private sector. Among the malpractices include failure to execute business contracts satisfactorily.
The code’s scope shall apply to directors and managers of member companies, non-executive directors, and all company staff. It will also affect shareholders of the company.
However, business people are requested not to misunderstand the code as a tool for policing members but rather a means to provide correct ethical behaviour for the members. It is intended to enable employees make the right decisions, providing a positive source of public evaluation, reputation and trust and to be specific enough to deter unethical behaviour.
Source : www.independent.co.ug/index.php/news/regional-news/78-regional-news/765-world-bank-gives-grant-to-rwanda
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