The IMFhas hailed the govt of Rwanda’s decision to inject into the Kigali international convention complex and its support to the national carrier Rwandair to purchase its own ircrafts. Government injected over 240million US dollars in this magnificent complex.
This is was revealed in the Fund’s recently released policy statement.
In last year’s budget, government gave loans to Rwandair to purchase planes. The 2 Boeing aircrafts – which are the first to be owned by the national carrier, will be operational by the end of next year.
Despite the construction halting for several months till mid last year, the $240million Kigali International Convention Complex is headed for completion on time in two years - with just government and the Rwanda Investment Group (RIG), as joint owners.
The IMF says the government made the best investment in venturing the two strategic investment projects.
According to The Fund in a policy statement released on Thursday, The authorities conducted feasibility studies, with assistance from international consultants, which showed that these projects are expected to have rates of return above financing costs.
The Rwanda Investment Group (RIG) and National Social Security Fund (NSSF) will have 51 percent stake of the Kigali International Convention Complex – with the remaining 49 percent being for government.
Billed as the biggest in the region, the Complex will have a capacity of some 2600 delegates. It will also have dozens of businesses complexes and shopping malls.
Ends
Mutesi Théopiste
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