The Eastern and Southern African Trade & Development Bank (PTA Bank) and Rwanda’s national carrier signed an aviation financing agreement which will see the leading investment finance institution in the region fund the aircraft purchase among other major infrastructural investments for RwandAir. The ceremony held at Serena Hotel – Kigali was presided over by Rwanda’s Minister for Infrastructure, Hon. Linda Bihire. Speaking during the ceremony, the minister stressed on the need for Rwanda to have a functional aviation system given the country’s strategic location on the continent. Hon. Bihire reaffirmed the government’s keenness to support a reliable air transport for the country.

Key signatories to the initial agreement worth USD 13.5 Million are Rwanda’s Minister for Finance, Hon. James Musoni and the President of the PTA Bank, Dr. Michael Gondwe. While giving his speech Dr. Gondwe said, “The two aircrafts that the airline is acquiring is just the beginning, being a development bank, PTA Bank is always ready to assist projects which contribute to the economic development of its Member Countries”. Currently PTA Bank has invested in excess of USD 65 Million in various projects in Rwanda.

Speaking after the ceremony, the CEO of RwandAir, Amb. Gerald Zirimwabagabo confidently stated that the national carrier is assured of the delivery of its first own aircrafts; CRJ -200 series before the end of the year. Currently, negotiations between RwandAir and large aircraft suppliers are at advanced stages for the acquisition of mid to long range aircrafts beginning 2010. The airline intends to expand its fleet considerably over the next five years.