The Government of Rwanda has signed a €65 million (approximately Frw109.7 billion) financing agreement with the European Investment Bank (EIB) to support the Volcanoes Community Resilience Project (VCRP), a major initiative aimed at strengthening climate resilience, protecting biodiversity and improving livelihoods in north-western Rwanda.
The agreement, signed between the Ministry of Finance and Economic Planning (MINECOFIN) and the EIB, will support the project across the districts of Gakenke, Burera, Musanze, Nyabihu, Rubavu, Rutsiro, Ngororero and Muhanga, benefiting more than 2.3 million people living in areas vulnerable to floods, landslides and soil erosion.
The project will finance flood risk reduction infrastructure, watershed restoration, landscape rehabilitation, biodiversity conservation and sustainable livelihood programmes to help communities adapt to the growing impacts of climate change.
The Ministry of Environment will coordinate implementation in partnership with the Rwanda Water Resources Board, Rwanda Meteorology Agency,
Rwanda Environment Management Authority and the Rwanda Development Board.
The financing agreement reflects the continued partnership between Rwanda and the European Investment Bank in advancing climate action, environmental sustainability and resilient infrastructure in support of the country’s long-term development goals.
