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Rwanda is a country situated in central Africa, bordered to the north by Uganda, to the east by Tanzania, to the south by Burundi and to the west by the Democratic Republic of Congo. Rwanda’s total area is 26,338 km2, with a  estimated at 445 people per km². It is a hilly, fertile, landlocked country, and a member of the East Africa Community (EAC).

Rwanda has maintained its political stability since the 1994 genocide against the Tutsi. Presidential and parliamentary elections were held jointly in July 2024, after the government decided to synchronize the voting dates. President Paul Kagame, of the ruling RPF party, was re-elected for a fourth consecutive term. This term will only last five years, following a 2015 constitutional amendment that reduced presidential terms from seven years to five and set a two-term limit. The ruling RPF coalition also won the majority of seats in parliament, securing 68.8%.

ECONOMY

Rwanda aspires to become a Middle-Income Country by 2035 and a High-Income Country by 2050. It plans to achieve this through the implementation of its second a five year-development agenda underpinned by sectoral strategies focused on meeting the UN’s Sustainable Development Goals (SDGs).

Rwanda’s economy continued to demonstrate strong performance in 2025, with year-on-year growth reaching 7.8% in the first half. This follows an impressive average growth rate of 8.4% over the period from 2022 to 2024. The expansion was largely driven by robust investment activity and sustained growth in the services sector. However, agricultural output slowed, reflecting a contraction in food production and only moderate gains in export crops.  

Last Updated: Sep 30, 2025

Despite remarkable growth performance in recent years, the creation of jobs in Rwanda is insufficient and the level of productivity remains low, reflecting infrastructure gaps, limited progress in innovation, and sub-optimal allocative efficiency. The inclusiveness of growth remains a key challenge, as the momentum in poverty reduction has weakened in recent years. The benefits of structural transformation have tended to accrue to more educated workers, worsening inequality. ľ¹ÏӰԺ’s Human Capital Index, which measures the amount of human capital that a child born today can expect to attain by age 18, places Rwanda at 160th out of 174 countries. High levels of public debt (projected to peak at 80% of GDP in 2025), vulnerability to climate change, and increasing pressure on natural resources will make it difficult to achieve the country’s targets of becoming an Upper Middle-Income Country by 2035 and a High-Income Country by 2050. Overcoming these challenges will require greater reliance on private sector investment to enhance productivity growth, raise incomes, and provide the financing to address infrastructure shortfalls.

Last Updated: Sep 30, 2025

ľ¹ÏÓ°Ôº Group’s (WBG) focuses on five thematic areas:

• Improved Human Capital
• Improved Conditions for Private Sector Development
• Expanded Access to Infrastructure and the Digital Economy
• Increased Agricultural Productivity and Commercialization, and
• Intensified Urban Agglomeration and Enhanced Resilience.

The CPF aims to catalyze higher volumes of private resources to support Rwanda’s development, building on the government’s

ľ¹ÏÓ°Ôº's portfolio in Rwanda comprises 26 projects (25 national and 1 regional), with a total net commitment of $3.37 billion as of September 30, 2025.

The International Finance Corporation’s (IFC) focus in Rwanda is on creating jobs and mobilizing private capital in key sectors such as agribusiness, inclusive finance, and sustainable infrastructure. In partnership with the Government of Rwanda, IFC is advancing critical initiatives including capital market development and green finance. As of August 31, 2025, IFC’s portfolio in Rwanda is $170 million, with a pipeline of $204 million. The $8.4 million advisory portfolio includes partnerships with the National Bank of Rwanda, Capital Markets Authority, Ministry of Finance, Rwanda Development Board, and Rwanda Green Fund.

 As of August 31, 2025, the Multilateral Investment Guarantee Agency (MIGA) is engaged in Rwanda with a total gross exposure of $40.7 million, spanning water, fintech, tourism, and energy sectors, covering four key projects: a bulk water Public Private Partnership project, a fintech mobile money project, acquisition and development of a hotel project, and a distributed energy project. Collectively, these projects drive job creation, strengthen private sector participation, expand access to clean water, promote financial inclusion and digital connectivity, support the growth of the tourism and hospitality sector, and enhance energy access.

Last Updated: Sep 30, 2025

ľ¹ÏӰԺ’s $360 million support and investment of key health sector strategies included incentivizing over 26,000 community health workers and clinical staff from more than 220 health facilities to deliver essential health services to 5.2 million people (40% of Rwanda's population), including 1.3 million women of reproductive age and 700,000 children under age five. Investments also contributed to reducing stunting rates among children under five in 13 targeted districts, integrating non-communicable disease services at the primary health care level, and strengthening the national health system through initiatives such as implementing the national medical oxygen plan, rolling out the electronic medical records system.

The $270 million expanded opportunities for youth to gain market-relevant skills, developing 33 new and updated TVET and degree training programs in collaboration with the private sector, enrolling 5,365 students (44% female). It provided short-term training to 23,000 youth (48% female), achieving a 90% employment rate after graduation, and improved student loan administration with 18,000 beneficiaries repaying loans and 22,710 new loans issued (44.7% female) for STEM programs in TVETs and universities.

The $338 million provided support to the basic education system with major infrastructure investments and teacher development initiatives. 22,000 classrooms and 31,000 latrines were constructed nationally with 50% co-financing from the Government of Rwanda. Upgrades of 16 teacher training colleges and 17 model schools were completed, and strengthened for climate resilience, equipping 617 schools with retaining walls and 1,576 schools with water harvesting tanks. The project has trained over 78,000 in-service teachers in digital skills, English language, and pedagogy, and the strengthened Teacher Management Information System enabled efficient hiring of over 50,000 new teachers.

Last Updated: Sep 30, 2025