World Bank Group Approves Innovative Financing Package to Advance Job Creation in Rwanda
Rwanda, March 27 -- The World Bank Group approved a new development policy financing (DPF) operation to support Rwanda's efforts to accelerate structural transformation and create more resilient and inclusive jobs.The operation, the first in a programmatic series of three, consists of a credit of € 85 million (equivalent to $100 million) combined with a policy-based guarantee (PBG) of $240 million. The PBG is expected to be further supported by a Multilateral Investment Guarantee Agency (MIGA) non-honoring of sovereign financial obligation guarantee, enabling the Government of Rwanda to mobilize up to $450 million in commercial financing on favorable terms.This innovative financing package will support the implementation of key strate...
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