BEIJING, Sept. 5 (Xinhua) -- China-Africa Development Fund (CADFund) and the Rwandan Development Board (RDB) have recently signed a memorandum of cooperation on promoting investment by Chinese enterprises in Rwanda.
According to the memorandum, both CADFund and RDB will give play to their own advantages and form a communication mechanism to encourage Chinese enterprises to invest in such fields as the manufacturing industry, industrial parks, information and communication in Rwanda, which will help Rwanda develop its economy, accelerate industrialization and improve people's livelihood.
The memorandum is expected to deepen the cooperation between the two sides and maximize the synergy between Belt and Road Initiative and "Vision 2020 (Rwanda)" and "Made in Rwanda" policy for project landing.
CADFund was inaugurated on June 26, 2007 with a total fund size of 10 billion U.S. dollars. As China's first equity investment fund focusing on investing in Africa, the CADFund is committed to encouraging and supporting the Chinese companies to develop cooperation with Africa.
According to the CAD Fund, it has accumulatively invested more than 4.6 billion U.S. dollars in 92 projects in 36 African countries, which boosted investment of more than 23 billion U.S. dollars by the Chinese enterprises in Africa.
Rwanda Development Board, established in 2009, is a government department responsible for attracting and promoting the foreign investment in Rwanda. (Edited by Wu Shuang, Hu Pingchao, wushuang2018@xinhua.org)
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