AGDFAustralian Green Development Forum (Australia)
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The AgDF looks forward to boost Rwanda's self-reliance and rendering homegrown solutions for the nation's improvement requirements.
Out of the total amount, Rwf20 million will go to AgDF, while Rwf5 million is for the Girinka programme.
A sovereign wealth fund, The AgDF aims to promote Rwanda's self-reliance and providing homegrown solutions for the country's development needs.
AgDF continues to expand with about Rwf6.2 billion in commitments uncollected.
Vianney Kagabo, CEO of AGDF Corporate Trust Limited said that the fund has collected over Rwf21.1 billion which will be put to use by 2014 through select corporate trustees.
It was decided that the AGDF be established as Rwanda s Sovereign Wealth Fund, which is defined as a pool of money derived from a country s reserves set aside for investment purposes that will benefit the country s economy and citizens.
The AGDF will be sustained by a variety of fundraisers, as well as the commitment of the government to dedicate 1% to 3% of annual tax revenues to the fund.
AgDF is a solidarity fund initiated by Rwandans to enhance the level of financial autonomy of Rwanda as a nation.
The establishment of the AgDF is intended for financially support the development ventures which will be decided by the Rwandans later.
The previous fundraising move in the east was organized in Nyagatare district and the locals gathered Rwf 880 million for the AgDF.
He also clarify that AgDF will help Rwandans to achieve what some foreigners don't want to see the country perform.
Angelique Kantengwa, the Director General of RSSB said, What Rwanda has experienced recently has become 'a challenge turned into an opportunity'; RSSB is fascinated by the idea (AgDF).