Rwanda: Country Gets Sh119m IMF Poverty Loan

from All Africa

The East African Standard (Nairobi)

Kimathi Njoka
Nairobi

Rwanda is to get Sh119 million ($1.7 million) loan from the International Monetary Fund (IMF)for poverty alleviation.

The announcement follows the completion of the first review of Rwanda's performance under a Sh840 million ($12million) Poverty Reduction and Growth Facility (PRGF) arrangement last month.

The completion of the review will see a disbursement of Sh119 million, bringing to Sh238 million the total amount so far drawn under the arrangement.

The PRGF is the IMF's concessional facility for low-income countries. PRGF-supported programmes based homegrown poverty reduction strategies that are adopted in a participatory process involving development partners.