Business

Rwanda secures 11.6m Euro grants to build lake port

Last updated on September 11th, 2021 at 03:11 pm

The Netherlands will offer over 11.6 million euros (12.7million U.S. dollars) in grants to Rwanda in the next fiscal year to build four ports on Lake Kivu (West) as a move intended to develop trade, maritime transport and tourism around the lake, an official source revealed Saturday in Kigali.This grant represent 40 percent of the project which will be built in the four districts of Rubavu (Nyamyumba), Rusizi ( Bugiki), Karongi (at the Karongi cross-border market); and Rutsiro (Nkora region), a statement issued by the Rwanda’s ministry of Finance and Economic Planning said.
It is expected that the construction will start next month and will be completed by the end of 2020.
Reports indicate that the port maximum cargo handling capacity is 580,000 tonnes, while the minimum is 270,000 tonnes.
Estimates by Rwanda Transport Development Agency (RTDA) show that there will be three major ports with capacity of about 1.5 million passengers per year in 2020, projected to reach 2.8 million by 2036, while a smaller one in Karongi will start with a capacity of about 300,000 passengers per year by 2020 and 400,000 passengers by 2036.
The ports will boost cross-border trade as many people come from the DR Congo to buy products from major markets in Rubavu and Karongi located on Lake Kivu belt in Western Rwanda, according to the same source.

Albert Echetah

Recent Posts

The 2025 Champions Trophy could be moved to South Africa if Pakistanrejects ICC conditions

The ICC Champions Trophy 2025 could be moved to South Africa if the Pakistan CricketBoard (PCB) rejects the hybrid model,…

November 12, 2024

Why the UAE is the Top InvestmentChoice for Africans and Others in 2024

In addition to the Middle East and North Africa, the United Arab Emirates is becoming asignificant hub for trade and…

November 12, 2024

UAE Emerges as a Major Aid Donor in Africa

The UAE has established itself as a key player in the global aid regime, especially inAfrican countries. According to the…

November 12, 2024

The Impact of Susie Wiles as the First Female Chief of Staff

President-elect Donald Trump on Thursday named Susie Wiles, a Florida strategist who ran his political operations for nearly four years,…

November 11, 2024

Zambia: Africa’s Premier Eco-Tourism Haven

Zambia's untouched environment provides an unparalleled, up-close animal experience with a walking safari. Zambia's national parks including South Luangwa and…

November 11, 2024

COP29 in Baku: The $1 Trillion Climate Finance Challenge

The 29th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change starts in…

November 11, 2024

This website uses cookies.