Rwandan Govt Set To Repay Eurobond

The Government of Rwanda says it is on course to repay a $400 million Eurobond from 2013. The loan was secured in order to fund infrastructure developments and investments.

Repayment of the bond is due in 2023, with Minister of Finance and Economic Planning Uzziel Ndagikimana stating this week, “We are paying very well; we have never defaulted and our investors are happy; we are confident that we shall complete payment within the agreed time which is 2023.” 

The recently constructed Kigali Convention Centre is one of the products of the investment. According to the Minister more than 100 events have been hosted at the facility every year since it opened, including the African Union Summit and the Africa CEO Forum. In 2020 Rwanda is set to host the Commonwealth Heads of Government Meeting.

The Centre has been a boost to the country’s tourism industry with figures from the Rwanda Convention Bureau estimating that revenues from meetings, incentives, conference and exhibitions (Mice) tourism stood at $42 million in 2017, with the Government seeking to raise this figure to $88 million in 2018.