The Lower House on
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Here are three things to know about the deal:
It is in that context that
Of that funding, he said, E180 million is guaranteed by ADF, while the remaining E20 million is not.
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Interest rate, and repayment period
The E180 million of the loan covered by security from ADF will be repaid within 10 years that are counted after five years [of grace period], at 1.3 per cent interest rate per year plus an interest rate charged among European banks in a period of six months, Tusabe pointed out.
He added that the E20 million that does not have the ADF security will be paid back in a three-year period that will be counted after two years [of grace period] at an interest rate of 5.25 per cent per year, plus an interest rate charged among European banks for six months.
Implication
Tusabe told lawmakers that the government developed a sustainable financing framework by the government to mobile enough finance to invest in environmental conservation activities to contribute to
The funds were mobilised to endorse the programme and will play a role in the implementation of the national programme to deal with climate change and promote the environment.
"Eligible projects to be funded which will consist of activities in line with the promotion of environment and strategies to deal with climate change, will play a remarkable role towards achieving an economy free from harmful emissions," he said, adding that the projects will also contribute to nutrition and food security, improving people's welfare.
In a statement that the
This guarantee from the
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