Sunday, January 21Informations That Matters

Tag: Rwanda

AfDB Earmarks US$84m For Skills, Business Development In Rwanda

AfDB Earmarks US$84m For Skills, Business Development In Rwanda

BUSINESS
  The Board of Directors of the African Development Bank (AfDB) has approved US$84.3m loan to finance a Skills and Business Development Programme (SBDP) in Rwanda. The program will promote reforms, boost domestic production and create about 200,000 jobs annually. Rwanda’s economic performance remains strong averaging 6.8% % of GDP growth per annum since 2013. The country has also made progress in creating 150,000 off-farm jobs every year since 2014. However, the private sector which is the engine for job creation is not creating enough jobs to absorb the 200,000 youth entering the labour market annually because of the proliferation of unproductive businesses with low survival rates. The Government of Rwanda is keen on developing a competitive private sector and crea