The agreement was formalised on Tuesday, June 17, at the OPEC Fund Development Forum 2025 in Vienna, Austria, where Rwanda's Minister of Finance and Economic Planning, Yusuf Murangwa, and OPEC Fund President Abdulhamid Alkhalifa announced the deal.
The financing allocated for the 2025â€"2028 period will be channelled into key sectors identified as critical to Rwanda's long-term growth. These include agriculture and food systems (with a focus on irrigation and post-harvest management), renewable energyâ€"particularly solar powerâ€"transport (notably in the aviation sector), and environmental restoration.
The framework is designed to support Rwanda's development priorities, including the expansion of quality infrastructure, improved access to essential basic services, and the promotion of entrepreneurship and private sector growth.
The agreement is part of a broader theme at this year's forum, 'A Transition That Empowers Our Tomorrow,' highlighting global commitments to inclusive and climate-resilient development pathways.
The OPEC Fund for International Development is a development finance institution established by OPEC member states in 1976. It provides financing to support the economic and social progress of developing countries.
Wycliffe Nyamasege
