Monday, 8 December 2014

World Bank Loans Refining Policy Planning in Rwanda

The Government of Rwanda and World Bank Group have recently engaged in two credit arrangements totaling $200 million to aid lift the country's public fiscal management and upkeep agriculture sector revolution.

With the aid of US $100million, the Transformation of Agriculture Sector Program (Phase 3) will upkeep the Government of Rwanda's deliberate ideas to renovate Rwanda's agriculture. The program will centre on nurturing famer's income through branching out of crops, better use of input to combat land erosion, enlightening irrigation, and augmented private sector investments.

The Public Financial Management and Statistics Systems program, with an alike funding, will lift the government's statistical aptitude to make evidence-based policy decisions and expand its planning and accounting. This will put up to more efficient and effective use of public resources. It will focus on accounting, auditing, budgeting and reporting in both national and subnational governmental institutions.

"Public Financial Management and agricultural transformation are central to Government's development plans. It's crucial that we are able to make evidence based policies that will in turn have a positive impact on our people," said Claver Gatete, the Minister of Finance and Economic Planning.

Carolyn Turk, World Bank Country Manager for Rwanda for her part said: "One of the innovative features of this Program is that it includes gender-responsive budgeting, with training for planning and budget officers to generate national and subnational gender statistics".

Both programs will develop the Program for Results (PforR) financing gadget in order to progress the effectiveness and efficiency of government expenditure programs and help build institutions and capacity under the programs being maintained.

PforR is one of the three financing instruments in a four year Country Partnership Strategy that was signed between Rwanda and the World Bank. Others include Development Policy Objective DPO-Sector budget support and Project Modality Support.


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