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 by 9.7% in the first half of 2026 following an impressive 9.4% growth in 2025. Growth was mainly supported by services. Driven by construction activities, industrial growth expanded by 15.5% in the first half of 2026 and agriculture expanded by 5.9% . On the expenditure side, GDP growth was fueled by 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 , 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 24 projects with a total net commitment of $3.1 billion, as of August 31, 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 August 31, 2026, IFC’s portfolio in Rwanda totals $148.1 million. This is complemented by a pipeline of approximately $497 million, expected over the next two years. IFC also manages a $4.5 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 August 31, 2026, the WBG Guarantee Platform, housed atthe Multilateral Investment Guarantee Agency (MIGA), has an active exposure of $558.97 million in Rwanda (MIGA $429.02 million and IDA $129.95 million) across 6 projects, supporting investments across the infrastructure (water), finance, tourism, agribusiness, and energy sectors. 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  Guarantee Platform, MIGA will deepen collaboration across the Group to de-risk foreign investment and focus on projects that align with the Platforms core objectives of scaling impact, mobilizing private capital, supporting climate-aligned investments, and driving economic growth and job creation.

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The World Bank’s $360 million support to key health sector strategies helped strengthen routine health service delivery and Rwanda’s capacity to prevent, detect, and respond to public health emergencies. This included incentivizing 26,000 community health workers and clinical staff from 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 helped reduce stunting rates in children under five, integrate non-communicable disease services at primary health care levels, and improve disease surveillance and community-based health interventions. The program also invested in laboratory and diagnostic capacity, cross-border disease surveillance, and implementation of the national medical oxygen plan and electronic medical records system.

The $270 million Priority Skills for Growth Program expanded opportunities for youth to gain market-relevant skills, developing 46 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 23,956 youth (48% female), achieving an 82 % employment rate after graduation, and improved student loan administration. It also resulted in greater in-country capacity to provide short-term, industry-led training to youth and existing workers, improve quality, and relevance of TVET and higher education in programs targeting energy, transport and logistics and manufacturing (agro-processing).

The $338 million Quality Basic Education (QBE) Project supported infrastructure and teacher development. 22,000 classrooms and 31,000 latrines were constructed with 50% co-financing from the government and an additional 800 classrooms are under construction. Upgrades of 16 teacher training colleges and 17 model schools are close to completion, strengthened for climate resilience. 4,802 schools are equipped with water harvesting tanks. The project has trained over 78,000 teachers in digital skills, English language, and pedagogy, and the strengthened Information System enabled efficient hiring of 50,000 new teachers.

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