Rwanda

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 population density 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%.

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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 National Strategies for Transformation (NST-2), a five year-development agenda underpinned by sectoral strategies focused on meeting the UN’s Sustainable Development Goals (SDGs).

Rwanda’s economy has continued to demonstrate strong performance. GDP grew 9.4% in 2025, following an impressive average growth of 8.5% over 2022–2024. Growth was supported by services, mainly in trade and transport, which generated about 40% of new jobs. Driven by construction activities, industrial growth was also strong. Agriculture saw a solid growth of 7.4%, a year after subdued growth due to unfavorable weather conditions. On the expenditure side, GDP growth was fueled by a resurgence in investment, coupled with steady household consumption.

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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.

The World Bank’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 rise to over 77% of GDP by end-2026), 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.

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The World Bank Group’s (WBG) Country Partnership Framework (CPF) FY21–FY26 focuses on five thematic areas:

• Improved human capital
• Improved conditions for private sector growth
• Expanded access to infrastructure and the digital economy
• Increased agricultural productivity and commercialization
• Intensified urban agglomeration and enhanced resilience.

The World Bank portfolio in Rwanda comprises 25 projects with a total net commitment of $3.2 billion, as of March 30, 2026.

The International Finance Corporation (IFC) supports job creation and private-sector growth by mobilizing private capital across priority sectors, including agribusiness, inclusive finance, and sustainable infrastructure. In partnership with the Government of Rwanda, IFC is helping advance key initiatives including the development of capital markets and the expansion of green finance. As of February 28, 2026, IFC’s portfolio in Rwanda totals $169.1 million. This is complemented by a pipeline of approximately $432 million, expected over the next two years. IFC also manages a $5.9 million advisory portfolio, working with the National Bank of Rwanda, Capital Markets Authority, Ministry of Finance, Rwanda Development Board, and Rwanda Green Fund.

As of February 28, 2026, the WBG Guarantee Platform, housed at MIGA, has an active exposure of $40.7 million in Rwanda across four projects spanning the water, fintech, tourism, and energy sectors. Beyond country specific operations, MIGA has also supported the Trade and Development Bank, of which Rwanda is a member, through guarantees that have enabled the mobilization of $747 million in commercial financing to expand trade finance across member countries. Under the new WBG Guarantee Platform, MIGA will deepen collaboration across the Group to de-risk foreign investment and focus on projects that reflect the Platforms core objectives to scale impact, mobilize private capital, support climate-aligned investments, and drive economic growth and job creation.

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The World Bank’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 Priority Skills for Growth Program 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 Quality Basic Education (QBE) Project 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.

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