The Rwanda Green Fund will mark five years of investing in a green and climate resilient in the country at a special event taking place as part of the 2017 Rwanda Green Growth Week.
The event will bring together leaders from a broad range of sectors to celebrate the success of the fund and discuss how to address the pressing environmental challenges faced by Rwanda.
Five years ago, Rwanda established the Fund, known locally as FONERWA, to invest in public and private projects that have the potential for transformative change and that align with Rwanda’s commitment to building a strong climate resilient and green economy.
Since it was established, the fund has mobilised approximately US$100 million (Rwf 80 billion) and approved 35 investments in climate resilient initiatives.
The fund’s investments have restored more than 15,000 hectares of watersheds and water bodies and protected more than 15,000 hectares of land against erosion.
The fund has also supported tree planting on more than 32,000 hectares across the country. In terms of green growth, 17,000 households have improved access to off-grid energy, and more than 95,000 people have been supported to cope with effects of climate change.
Projects financed by the fund have employed more than 127,000 people, supporting sustainable livelihood development.
To secure the next phase of its growth, a revised law governing the fund was recently gazetted.
This new law will increase the strategic orientation of the fund so that it contributes more to national priority setting and implementation and will improve the fund’s ability to seize opportunities for finance mobilisation.
In addition, a new business plan for the fund has been developed, which will guide its work over the next three years.
These major developments present an opportunity to share with stakeholders the fund’s success to date, explain the impact of the revised law and present the new business plan at the 5-Year Anniversary Event