The grant, which closes a funding gap created when other donors withdrew their aid, will support efforts by the Rwandan government to meet development targets in four key areas: diversifying and increasing electricity generation and supply; boosting agricultural production and exports; increasing revenue and jobs from mining; and facilitating private-sector investment.
In keeping with one of the central goals of the Paris Declaration on Aid Effectiveness and Accra Agenda for Action, SCBI, which was launched in 2011, is designed to help the government of Rwanda — as opposed to its development partners — assume ownership of the country's development priorities.
"Rwanda's development successes can be attributed to its aid effectiveness and its investments in government and institutions," said Howard G. Buffett. "If Western donors truly want to support African-led development and bring an end to Africa's reliance on outside aid, it's critical they support important efforts like SCBI. Withholding aid to make a short-term political statement only hurts millions of everyday Rwandans in the long-term."