President Kagame commends Rwanda - World Bank partnership

The President of the Republic of Rwanda, H.E. Paul Kagame has described Rwanda's partnership with the World Bank as 'excellent.' He said this during at a meeting with the President of the World Bank, Mr. James D. Wolfensohn, and Government Ministers, Parliamentarians, civil society groups and the private sector, held on Monday afternoon at the National Assembly.

"Rwanda and the World Bank have a relationship dating from 1963. Your visit therefore at this point in time is an eloquent testimony of the excellent partnership that has developed between the World Bank and our Government of National Unity since 1994, " President Kagame said.

President Kagame commended Mr. Wolfensohn, under whose tenure as World Bank President the Highly Indebted Poor Countries Initiative (HIPC) was established, along with the Comprehensive Development Framework (CDF). President Kagame said that these initiatives, "greatly enhanced our ability to ensure economic and social reform. We look forward to continued partnership between our country and the Bank in realizing our Vision 2020."

Rwanda reached the 'Decision Point' for inclusion on World Bank/IMF- supported enhanced Highly Indebted Poor Countries (HIPC) Initiative in December 2000. Having completed the full Poverty Reduction Strategy Paper (PRSP) at the end of 2001, Rwanda reached the 'Completion Point' for HIPC, an initiative under which beneficiary nations are awarded significant debt relief, which in Rwanda's case amounts to US$810 million. This debt relief will reduce Rwanda's debt outstanding at end-1999 by 71 percent.

Addressing the same meeting at the National Assembly, Mr. Wolfensohn commended Government efforts to bring about economic recovery. He said, "These efforts are well led and demonstrate that you have the foundation upon which to build economic and social hope for the people of Rwanda, which we can assist you with."

Mr. Wolfensohn said he had learnt a lot from his two-day visit to Rwanda. During the visit, he toured the Muhazi Demobilisation Centre for ex-soldiers and the Gisozi Genocide Memorial in Kigali.

He said that reconciliation is a crucial prerequisite to economic and social development, but added that there must also be an economic component to the reconciliation process saying, "to stop the anger and bitterness, you must build hope." He therefore stressed the importance of building an economic future along with one based on reconciliation.

Mr. Wolfensohn said the World Bank Group stands ready to be of assistance, "to contribute to the Rwanda of hope and development that you all desire."

Following the meeting at the National Assembly, President Kagame held further talks with Mr. Wolfensohn, before they signed the Development Gateway Agreement and held a press conference at the President's Office in Kigali.

Mr. Wolfensohn was accompanied on the two-day visit by his wife, Elaine Wolfensohn, and the World Bank's Vice President for Africa, Mr. Callisto Madavo. Mrs. Wolfensohn, who is an educationist, visited FAWE School in Kigali on Monday afternoon.

Mr. Wolfensohn left Rwanda for Tanzania of Monday evening, where he will meet with the Finance Minister of nine African countries, including Rwanda, which are emerging from conflict.

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