Minister of Foreign Affairs and Trade Péter Szijjártó signed a comprehensive strategic development cooperation agreement with the Republic of Rwanda’s Minister for Foreign Affairs and International Cooperation Vincent Biruta on Thursday in Budapest.

At the joint press conference held following the signing of the document, Mr. Szijjártó told reporters that as a result of the agreement development projects aimed at improving local quality of life will be realised in Rwanda that will reduce the emigration of people living there, as well as creating financial and business opportunities for Hungarian enterprises. The Minister explained that a 50-million-dollar tied aid loan fund had been established, rom which Hungarian enterprises will be able to realise their investment projects in the African country. As an example, he mentioned that a poultry farm will be realised in Hungarian-Rwandan cooperation, in addition to which Hungarian businesses will also be receiving opportunities within the fields of supplying border protection technologies and equipment, as well as the production of identification documents and passports. He highlighted that Hungary will be playing a role in the establishment of e Rwandan cyber security institute from both an investment and training perspective, in addition to which Eximbank is opening a 33 million dollar credit line to facilitate the realisation of healthcare and water management investment projects on the part of Hungarian enterprises.

“In addition to the above, Hungarian universities are offering twenty scholarship places for Rwandan students, who are expected to begin their studies in September”, he added. Mr. Szijjártó underlined that this was the first ever meeting between a Hungarian and Rwandan foreign minister, but Rwanda has now become a country with which it is definitely worth cooperation. He pointed out that last year, economic growth in the African country was most probably in double digits, and the political and economic stability is providing an opportunity for foreign investors, including Hungarian investors, to play a greater role. The Minister recalled that the European Union recently adopted its new Africa strategy, and member states agreed that Africa s the continent of the future, but that if a suitable level of investment and development does not occur then it could give rise to global challenges. “Cooperation between the European and African continents can become successful if the parties approach each other with mutual respect instead of lecturing or teaching the other a lesson. Europe’s goal is for the African countries to be able to retain their increasing populations, and this requires the creation of conditions thanks to which the people living here will not want to leave their homelands”, he stated. “Accordingly, Hungary does not regard migration pressure on Europe as a given fact, but is instead striving to provide assistance via investment and development projects and other forms of economic cooperation as, for example, it has already done in the case of Kenya, the Republic of Cape Verde and Angola”, he highlighted.

Vincent Biruta told the press that Rwanda is doing everything possible to establish a good investment environment for foreign investors, and this intent is also indicated by the fact that according to a report by the World Bank, Rwanda is in second place among the African countries with relation to the fluency of business processes. The Rwandan Foreign Minister expressed his joy with relation to the fact that he was able to personally meet the representatives of Hungarian enterprises that would like to invest in his country, and thanked Hungary for the scholarship places it has made available. he stressed that the African continent need the promotion of investment and trade to achieve development, not aid.

(MTI)