News

Rwanda plans big fund raising for energy development

Hills in Rwanda (source: flickr/ John & Mel Kots, creative commons)
Francisco Rojas 7 Aug 2014

To fund large infrastructure and energy development, the government of Rwanda is planning a $1bn bond sale. The funds are among others planned to be used for the development of a 150 MW geothermal plant.

Rwanda is pushing for a large international bond sale in order to finance new infrastructure projects such as airports and power plants. This push comes after a successful $400 million bond sale the previous year. This time, the intended goal is to double up to $1 billion. The consistent growth of the economy and the good forecasts seem to be increasing the appetite of investors for said bonds.

According to the news source, “The infrastructure projects that Rwanda planned to fund include an upgrade to the country’s main international airport outside the capital, Kigali, and the construction of a 150 megawatt geothermal plant“.

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Source: IOL Business Report Website