24.5 C
Friday, October 22, 2021

EU grants Rwanda 10m euros for private sector dev’t, job creation

Rwanda and the European Union (EU) have 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 that the grant was part of the 460-million-euro package of support to Rwanda for the period running until the end of 2020.

“The programme will address Rwanda’s need 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 effects of the coronavirus 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 as enhancing technological innovations, the ministry said.

Nicola Bellomo, the head of the EU Delegation to Rwanda, said the pandemic had demonstrated that without a strong digital sector, it would be difficult to adapt to the new world normal.

Bellomo added that the programme is so timely that it will 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. (Xinhua/NAN)

Content copyrighted. This material and any other digital content on this platform may not be written, re-written, published, broadcast, or distributed in full or in part, without written permission from TopSearch Magazine.

Email: editor@topsearchmagazine.com


Please enter your comment!
Please enter your name here

Most Popular

Recent Comments