Hungary to extend USD 50 mln in tied aid to Rwanda
Hungary will extend USD 50 million in tied aid to Rwanda, Minister of Foreign Affairs and Trade Péter Szijjártó said after a meeting with his Rwandan counterpart Vincent Biruta in Budapest on Thursday, state news wire MTI reports.
The aid will support a poultry farming business as well as the delivery of border defense technologies and the production of personal identification documents and passports, Szijjártó said.
He said Magyar Eximbank is opening a USD 33 mln credit line to support Hungarian companiesʼ participation in investments in health care and water management in Rwanda.
Hungarian capital and know-how will play a role in setting up a cyber-security institute in Rwanda, he added.
Szijjártó and Biruta signed a strategic development cooperation agreement at their meeting on Thursday.
Szijjártó said the agreement would make possible developments improving the quality of life in Rwanda and reducing migration from the country, as well as creating business opportunities for Hungarian companies.
Hungary will also start offering 20 university scholarships to Rwandan students from September, he added.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.