U. S. State Department official pledges energy investment in Rwanda
English.news.cn 2014-02-28 07:20:34 
KIGALI, Feb. 27(Xinhua) -- A U. S. State Department official is in
Rwanda to seek investment opportunities, especially in energy.
Elizabeth Littlefield, head of the U. S. State Department Overseas
Private Investment Corporation (OPIC), arrived in the East African
country Thursday, promising to woo more investors for power
development, the top challenge and opportunity in her eyes.
OPIC provides U. S. investors with debt financing, political risk
insurance and support for private equity investment funds.
The power sector, she said, is clearly the biggest challenge and the
biggest opportunity. "So, we see investors that are interested to
invest in hydropower and geothermal, and even in wind, solar, and
biogas," she told the media in the Rwandan capital Kigali.
Rwanda's power production stands at 110 megawatts with only 16 percent
of the population having access to electricity.
The country targets to produce at least 563 megawatts by 2018 from
various energy sources, including methane gas, peat, solar and biogas.
Apart from the Rwandan energy sector, American entrepreneurs have also
engaged in coffee and tea processing, forestry and agriculture
investment management, and in humanitarian services.
OPIC has invested 26 million U.S. dollars in five projects in Rwanda,
including the tea processing and exporting company Sorwathe and Rwanda
Trading Company, a coffee processing group.
Rwandan Finance Minister Amb. Claver Gatete said his country's
environment is open to investors and encouraged OPIC to keep
supporting investments into the country.
Littlefield, who has toured different companies with American
interests in Rwanda, praised the progress made by the African country
in improving investment environment. "We know that this country is
doing extremely well on all the indicators of being a good environment
to bring investors in," she said.
She described Rwanda as a place where many countries throughout the
region look to how to create a One-Stop-Shop in getting business
licenses and other services.
Editor: Yamei Wang
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