India Bails Out Rwanda With $200 Million Credit Lines

India Bails Out Rwanda With $200 Million Credit Lines

Accessdome.com: an accessible web community
Accessdome.com: an accessible web community

By Andrew Irumba

India on Monday extended $200 million lines of credit to Rwanda as Prime Minister Narendra Modi held wide-ranging talks with President Paul Kagame and discussed measures to strengthen co-operation in trade and agriculture sector. After the one-on-one talks with president Kagame, Modi announced that India would soon open its mission in Rwanda. The two countries signed agreements on leather and allied areas and agricultural research. India also extended two lines of credit – one of $100 million for development of industrial parks and Kigali #specialeconomiczone (SEZ) in Rwanda and another $100 million for agriculture. Modi arrived in Rwanda on Monday evening on the first leg of his three-nation Africa tour as part of India’s outreach to the resource-rich continent, becoming the first Indian premier to visit the East African country.

Mr.Modi is now on his way to Uganda where he will be hosted by his counterpart President Yoweri Museveni.

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