Rwanda’s Finance Ministry announced that South Korea has awarded the country $1 billion in concessionary loans for projects in the transport, healthcare, and education sectors, to be paid from 2024 to 2028.
This new agreement doubles the previous four-year $500 million deal, which is set to end in 2026.
In May, Rwanda stated that 1.32 trillion Rwandan francs ($1.02 billion) in the 2024/25 budget would come from external loans.
Rwandan President Paul Kagame attended a summit in South Korea in early June, where he met with President Yoon Suk Yeol.
Source:Mybrytfmonline.com
