Showing posts with label Rwanda. Show all posts
Showing posts with label Rwanda. Show all posts

Monday, January 16, 2012

Rwanda IMF Executive Board Completes Third Review Under Policy Support Instrument


Press Release No. 12/4. January 9, 2012.The Executive Board of the International Monetary Fund (IMF) today completed the third review of Rwanda’s economic performance under the Policy Support Instrument (PSI). In completing the review, the Board approved the modification of the end-December 2011 assessment criteria.

The Executive Board approved a three-year PSI for Rwanda on June 16, 2010 (see Press Release No. 10/247). The IMF’s framework for PSIs is designed for low-income countries that may not need IMF financial assistance, but still seek close cooperation with the IMF in preparation and endorsement of their policy frameworks. PSI-supported programs are based on country-owned poverty reduction strategies adopted in a participatory process involving civil society and development partners.

Following the Executive Board’s discussion on Rwanda, Naoyuki Shinohara, Deputy Managing Director and Acting Chair issued the following statement:

“Rwanda’s economy in 2011 is poised for high growth—but also high inflation—with elevated risks for 2012. While strong agricultural output and exports are driving high real gross domestic product (GDP) growth, aggregate demand pressures are also building up and have already pushed up core inflation. Growth is expected to slow in 2012, although risks from an uncertain global economy and further price shocks could bring lower growth and higher inflation. Structural reforms efforts will have to be stepped up to boost growth prospects.

“The authorities have begun to tighten monetary policy in late 2011 to contain inflation. However, further tightening may be needed in 2012 to prevent the erosion of recent gains in macroeconomic stability. Monetary policy implementation is expected to be enhanced further, including by preparing an action plan to develop the interbank money market.

“Fiscal consolidation in FY2011/12 and FY2012/13 remains on track and is expected to further anchor macroeconomic stability. The authorities have introduced additional revenue measures for FY2012/13 to preserve the revenue objective of PSI. The new requirement for State-Owned Enterprises (SOEs) to seek prior approval of the Ministry of Finance before contracting new external debt will help further consolidate recent improvements in Rwanda’s debt management capacity.

“The establishment of a transparent and sustainable institutional structure to supervise Savings and Credit Cooperatives (SACCOs) needs to be fast-tracked. The hiring and training of 60 supervisors was an important first step. Given the speed of rolling out these cooperatives as full-fledged lending institutions, and the risks involved, it is imperative that the necessary institutional structure be put in place without delay.

“In light of significant risks in the global economic environment that could adversely impact Rwanda’s exports and international reserves, the central bank should avoid any further encumbering of the central bank’s foreign assets as collateral for loans to finance the government’s strategic investments,” Mr. Shinohara concluded.

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Friday, December 2, 2011

World Bank to Finance Private Sector Growth Policies in Rwanda

Press Release No:2012/179/AFR. WASHINGTON, November 29, 2011—The World Bank Board of Executive Directors approved financing to the Government of Rwanda in the amount of US$125 million. The Eighth Poverty Reduction Support Financing (PRSF-8) will help the Government’s implementation priorities in its medium term strategy, the Economic Development and Poverty Reduction Strategy (EDPRS). Given Rwanda’s status as a blend country, US$60 million of the funds are on IDA grant terms and US$65 million are on IDA credit terms.

The PRSF-8 is the first operation in the third series of World Bank Poverty Reduction Support operations for Rwanda launched in 2002. The new series particularly supports the development of policies that facilitate increased private sector investment and involvement and ease constraints to broad based growth.
“This main focus, on creating opportunity for growth and harnessing private sector growth for sustainable poverty reduction, reflects the key thrust of the new World Bank Strategy for Africa.” said Mimi Ladipo, World Bank Country Manager for Rwanda.

During the PRSF8-10 priority areas of support will be policy measures aimed at: (i) supporting the facilitation of trade and investments; (ii) increasing access to electricity and improved infrastructure services; (iii) raising private sector participation in the agricultural sector; (iv) increasing the quality and relevance of education to build a skilled workforce; (v) improving service delivery through focused and strategic civil service reform; and (vi) strengthening the management of public resources, including increasing transparency and accountability.

The PRSF-8 financing is dependent on progress against EDPRS objectives as measured by the Common Performance Assessment Framework relied upon by all budget support partners in Rwanda. The most recent XIV Joint Budget Support Review, held on October 24-25, 2011, showed that Rwanda is making good progress in terms of implementing the targets and policy actions within the harmonized framework of budget support. “The proposed US$125 million in IDA commitments for this operation is the largest single development policy financing tranche to Rwanda so far. It reflects the World Bank’s positive assessment of the Rwandan Government’s continued commitment to reforms that can lead to inclusive and broad based development.” said Birgit Hansl World Bank Task Team Leader.

The Rwanda IDA portfolio comprises eight investment projects with a net commitment of US$277 million.

Contact:
In Kigali: Rogers Kayihura, +250-591-303, rkayihura@worldbank.org.s

Tuesday, November 29, 2011

Rwanda.Third Rural Sector Support Project:Resettlement policy framework

This Resettlement Policy Framework (RPF) is an updated version of Rwandan Rural Support Sector Project Phase 3 which is being financed by the World Bank. The Ministry of Agriculture and Animal Resources (MINAGRI) is the agency responsible for implementing the Rural Sector Support Project (RSSP), including the provisions of this RPF.

This RPF is to guide RSSP to ensure that the World Bank safeguards Operation Policy 4.12 for involuntary resettlement and national requirements for land acquisition and resettlement are adequately addressed. RSSP should in addition ensure that the relevant capacity and training needs are established in order for the recommended measures to be implemented effectively.

World Bank.Author:Rukazambuga Ntirushwa Daniel.Document Date:2011/11/01.Document Type:Resettlement Plan.Report Number:RP1210.Volume No:1 of 1.

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Thursday, November 17, 2011

Rwanda: From Post-Conflict to Environmentally Sustainable Development

Main Report The report, Rwanda: From Post-Conflict to Environmentally Sustainable Development, was unveiled in Kigali by the Minister of Natural Resources, Hon. Mr Stanislas Kamanzi, at the start of a regional meeting with East African senior policy makers exploring how to leverage support for a shift towards an environmentally sustainable, climate resilient, low-carbon, resource-efficient future.
Following a consultative process with the Government of Rwanda, the 380-page UNEP report provides a critical analysis of the most pressing environmental issues facing the country and proposes an integrated package of almost 90 projects and interventions, totaling US$147 million, that would help the country accelerate its sustainable development agenda.
Key findings include that Rwanda has lost 60 percent of its natural forest area since independence, driven mainly by the needs of a fast-growing population for land, timber and firewood. However, recent reforestation efforts have helped raise forest cover to around 20 percent of the country's surface area.
In particular, the report recommends the Rwandan government reinforces its policies and investments in areas such as large-scale ecosystem rehabilitation, renewable energies, sustainable agriculture and agroforestry, environmental management capacity building and regional environmental cooperation, including participation in natural resource trade initiatives.
With over 10 million people in an area of 26,000 square kilometers, Rwanda is one of the most densely populated countries striving to unlock a downward-cycle of natural resource over-exploitation. However, it has made remarkable progress following the aftermath of the 1994 genocide and is now considered an inspiration for African development.
UN Under-Secretary General and UNEP Executive Director, Mr Achim Steiner, said the shared lessons from implementing the report's recommendations would help reverse declining environmental trends and showcase a real-life pathway to a green economy.
"Rwanda provides an exceptional case of a country's willpower to overcome a traumatic conflict legacy, restore degraded ecosystems and lift people out of poverty and there is growing interest from development partners and other countries in Rwanda's pioneering model," said Mr Steiner.
"The ongoing metamorphosis of Rwanda's economy offers a unique opportunity to catalyse green investments, to enhance sustainability, create green jobs and promote environmentally efficient technologies," he added.
Speaking at the launch event, Minister Kamanzi welcomed the scientific assessment which he said underlines the intrinsic relationship between ecosystem services and the achievement of national development goals as outlined in Rwanda's Vision 2020.
"We see the environment as the heart of our economy and need to ensure that it can sustain the economic growth achieved in recent years," Mr Kamanzi said.
"The damage to the Congo-Nile and Byumba highland ecosystems is highlighted not only as a threat to biodiversity but to livelihoods and Rwanda's economic future because it must sustain hydropower, agriculture and drinking water supplies, as well as providing climate regulation and carbon sequestration services.
"For Rwanda and other countries in the region, the time has come to capitalize on green economy thinking and translate our policy targets into on-the-ground action to create jobs, combat poverty and accelerate sustainable development across the region," the Minister said.
More than 40 legal and technical experts from Burundi, Kenya, Tanzania and Uganda, as well as Rwanda, are attending the workshop which is aiming to enhance capacity in East African countries to use the green economy as a driver for sustainable development and poverty reduction, and to identify actions, opportunities and challenges for integrating green economy in policies and legislations at national and regional levels.
One of the enabling frameworks needed for the green economy is having effective laws and related governance structures to support it. Strengthening the regulatory and governance frameworks will complement measures already being taken by governments and the private sector.
To further support Rwanda in its efforts to accelerate a sustainable growth path, UNEP used the workshop to release another new report, Mainstreaming Resource Efficient and Cleaner Production in Policies and Strategies of Rwanda.
This report was prepared by UNEP in collaboration with Rwanda's Ministry of Trade and Industry and the Ministry of Natural Resources and the Rwanda Environment Management Authority (REMA).
The report reviews existing policy and strategy frameworks of resource efficient and cleaner production (RECP) and identifies areas for mainstreaming RECP into the country's national policies and strategies.
In particular, the report identifies strategic entry points for mainstreaming in four main areas: institutional and policy integration, economic and fiscal incentives, capacity building and support to small and medium-sized enterprises and information and public education.
The two-day workshop, organized by UNEP and REMA, is expected to take these findings on board as they examine how regulatory instruments can contribute to reducing poverty and promoting the transition to a green economy in East Africa.
Earlier this year at the UN Forest Forum, Rwanda launched a landmark Forest Landscape Restoration Initiative aimed to reverse by 2035 the degradation of the entire country's soil, water, land and forest resources. Next week, an intensification of Rwanda's tree planting programme is due to begin with the target of planting 68 million trees over the next 12 months to reach the government's goal of raising forest cover to at least 30 percent of its land area by 2020.
As part of the One UN presence, UNEP stands ready to assist the Government of Rwanda in mobilizing resources to implement the post-conflict assessment's recommendations and with broader ongoing environmental initiatives.

UNEP’s assessment was conducted with funding from the Government of Sweden.


Further Resource




For more information please contact:
Angele Luh, UNEP Regional Information Officer, +254 20 762 4292 or angele.luh@unep.org
Julie Marks, UNEP Disasters and Conflicts programme, +41 22 917 8478 or julie.marks@unep.org
Government of Rwanda:
Laetitia Kameya Umuhoza, REMA Media Expert, +250785323688 or laekameya2000@yahoo.fr

Rwanda: From Post-Conflict to Environmentally Sustainable Development