Energy

Rwanda launches $104m green investment facility

In its bid to spur investment in private sector-led green growth through sustainable financing, Rwanda has launched a new 104 million dollars green investment facility.

Rwandan President Paul Kagame said $104 million initial capitalisation was provided by the Development Bank of Rwanda and other partners.

The initiative named Irene Invest was launched as a side event at the COP27 which opened in Egypt on Monday.

Speaking during the event, Kagame said the launch of Ireme Invest was a significant milestone for Rwanda.

“Ireme Invest embodies Rwanda’s commitment to achieving tangible results toward a green economy through public-private partnerships in key areas.’’

He noted that climate adaptation requires big changes in the manner countries produce and consume energy.

“How we move around, all that depends on climate adaptation and change. What we eat and how it’s grown; all that comes together. In short the entire economy is affected, which means the private sector has a tremendous role to play.’’

According to Kagame, whether the progress made at COP27 was big or small, there are still many tools available to countries to get things done on the ground.

“That is really the key point we are driving home with the launch of Ireme Invest, and with green public-private partnership generally,” he said.

World leaders, government representatives, experts, representatives of the private sector and policymakers gathered at the COP27 to discuss pressing matters on climate change and effective responses.

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