The World Bank Group has approved on the 22nd January, a $70-million (about Rwf49 billion) credit to the Rwandan government to support and to improve efficiency coverage and the harmony of its social protection strategy.
The World Bank Development Policy Operation (DPO) supports the government’s National Social Protection Strategy and to facilitate Rwanda’s effort to address chronic poverty and to reduce the impacts of external shocks on the poor through a larger and more efficient social protection system.
This IDA financing (International Development Association), institutions affiliated to World Bank, aims to particularly contribute to the promotion of ethical accountability and transparency, in line with the government policy for the governance responsibility.
In 2014, the same board has approved $70 million in grants to help Rwanda expand and manage its social protection system.
According to Ronald Nkusi, the director of external finance unit at the Ministry of Finance and Economic Planning, “this new fund will help to improve efficiency and widen the scope of the strategy, including poverty reduction through increment of household income”.
According to Carolyn Turk, the World Bank country manager, funds will help Rwanda stay on course of reducing poverty across the country.
“Building on the previous DPO series, this proposed programmatic work will help the Government of Rwanda to stay on course for reaching its poverty reduction goals, while addressing a new set of reforms critical to strengthen Rwanda’s social protection system,” Turk said in a statement.
“This programme will position Rwanda to better support the resilience of the poor and vulnerable and to generate opportunities for more Rwandans to move out of poverty,” Laura Rawlings, the team leader for the World Bank’s Social Protection System programme for Rwanda, said.