Rwanda launches $30m ICT fund
21 June 2018 | Jason McGee-Abe
The Government of Rwanda has launched a new $30 million (RWF25.4bn) ‘National Research and Innovation Fund’ aimed at boosting the country’s ICT sector.
The fund, which was announced at an event in Kigali last week, was created after a loan was granted to Rwanda by the African Development Bank (AfDB), through its African Development Fund (ADF), says a report from Agence Ecofin.
Edouard Ngirente, Prime Minister of Rwanda, said the fund, which will take effect from the next fiscal year, is part of the national transformation strategy 2017-2024. “Government of Rwanda has allocated seed capital to the National Research and Innovation Fund. Year-after-year, we are committed to increasing our budget allocation to this innovation fund. We will continue to support research and technology with a special focus on the link between our young innovators and the job market.”
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The Agence Ecofin report notes that the resource will support innovative project leaders in a number of strategic areas for the nation's development, including the information and communications technology sector, which is seen as cross-cutting, as it affects the efficiency of other sectors.