Luxembourg-based Erasmus Investment International has agreed to invest €3.5 billion into agriculture and ag-related projects and housing in Rwanda. Last year a five-year strategy was unveiled with the goal of raising Rwanda (where 80% of the population depends on agriculture) to middle income status by 2018. So far 10,600 hectares of land in Ngoma, Gatsibo, Kirehe, and Kayonza have been identified for cultivation and irrigation. Other funds will be used for project involving processing, horticulture, irrigation, the construction of affordable rental housing, fish farming, and the construction of a factory for the sustainable production of paper and cardboard for packaging materials. The feasibility study is planned to be completed by the end of 2014.
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