29 December 2012

Rwanda: Teachers Coop Boost Agaciro With Rwf100 Million

The Teachers' Savings and Credit Cooperative, Umwalimu-Sacco, yesterday, pledged Rwf100 million towards the Agaciro Development Fund (AgDF).

Its board chairman, Jean Marie Vianney Nzagahimana, handed the dummy cheque to the Minister of Finance and Economic Planning, John Rwangombwa, at the latter's office in Kigali.

The solidarity fund, which was launched in August, has so far raised Rwf26 billion, with Rwf12 billion already collected, officials said.

Speaking to journalists, Nzagahimana said the contribution came from the institution's staff and its profits.

"We are committed to participating in building our country and are proud of it. Our institution is too young but growing at a good pace," he said.

Nzagahimana explained that Umwalimu-Sacco staff pledged Rwf25 million, while the institution raised Rwf75 million.

Umwalimu-Sacco is one of several government initiatives designed to enhance teachers' socio-economic development by easing their access to credit facilities at affordable interest rate to help them set up small-income generating projects to supplement their salaries.

AgDF is a national sovereign fund, contributed to through voluntary monetary contributions by Rwandans and friends of Rwanda, with an aim of increasing the country's financial self-reliance in a bid to achieve its long-term development goals.

"We thank Umwalimu-Sacco for contributing to the Agaciro Development Fund and reaffirm government's commitment to uplifting the welfare of teachers," Minister Rwangombwa said.

"Our role now is to safeguard the Fund so that it achieves the set objectives."

Rwangombwa hailed Rwandans for actively supporting the initiative, which was proposed during the 2011 National Dialogue (Umushyikirano) but launched in August this year.

"Contributing to the Agaciro Fund does not necessarily mean having excess money but it's a demonstration of the desire to uphold our country's dignity and aspiration to be self reliant," the minister said.

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