The African Development Bank has approved a concessional loan of $97.675 million to Rwanda to strengthen its national budget as it works to mitigate impacts of the COVID-19 pandemic.
The funding will take the form of an African Development Fund loan, which the Bank is providing the under its COVID-19 Response Facility.
Rwanda mounted a swift and decisive response to counter the effects of the pandemic that included social distancing, suspension of domestic and international travel, remote working, and on 21 March, a total lockdown of the country. However, since 4 May 2020, the government has partially reopened the country.
Under the Crisis Response Budget Support Program, the Rwandan government will use the funding to strengthen the health system to contain the spread of COVID-19; safeguard economic resilience; and mitigate the pandemic’s impact on vulnerable sectors of the population.