Rwanda’s Finance Minister Claver Gatate (R) and World Bank country director, Yasser El-Gamal (l) exchange files after sealing the road financing deal
Rwanda’s Senior Government officials will on February 14th meet development partners in a retreat due at Rubavu, a calm boarder city to discuss how funding should be Rwanda’s priorities and not sponsor’s wishes.
The two day retreat will run from February 14th through February 15th, to review and discuss Rwanda’s development priorities and the quality of financial flows.
The retreat comes at the time when the country’s fiscal year 2017/2018 budget rose to Rwf 2 trillion, from Rwf 1.9 trillion the previous year.
According to the Ministry of Finance and Economic Planning, internally generated revenues and loans account for 83% of the total budget while 17% will come from foreign aid.
While the fiscal year 2017/2018 marks the fifth and last year of EDPRS 2 implementation, this retreat will bring together stakeholders in Rwanda’s development “to review and discuss the progress in implementing the EDPRSII and key policies of Rwanda,” reads a communiqué from the Ministry of Finance and Economic Planning (Minicofin).
On the agenda, they will also review key sector policies of Rwanda and examine the implementation of the Development Performance Assessment Framework (DPAF).
Last year’s development partners retreat discussions focused on Rwanda’s Vision 2050 perspective and EDPRS3 roadmap, national plans and priorities for fiscal year 2017/2018, financial sector development and partnerships for sustainable development focusing on domestic resource mobilization.
China Road and Bridge Corporation (CRBC) at work in Rwanda
Meanwhile, the World Bank as Rwanda’s main development partner commended Rwanda for allowing the private sector to take a lead in the country’s development.
“One thing is becoming increasingly clear: now more than ever, the role of private sector has become central in development of any country,” Mr. Yasser El Gammal, World Bank Country Manager said in the last year’s retreat concluding remarks.
“Public sector can contribute to development up to a certain point but private sector has to lead and continue the growth trajectory that this country has led.”
Rwanda’s main development partners include the World Bank, European Union, the African Development Bank (AfDB), Global Fund, Arab Funds, DFID/UK, USAID, China, United Nations, apan International Cooperation Agency (JICA), Korea International Cooperation Agency (KOICA), Private Sector Federation (PSF) and local and international NGOs.
