The Minister of Finance and Economic Planning Dr Uzziel Ndagijimana and the Danish Ambassador to Rwanda Signe Winding Albjerg today signed a financing agreement of DKK 37,000,000 million (US$ 5.2 million or Frw 5 billion) to support IREME invest, a new green investment facility that supports Rwanda’s private sector to access green finance and increase the private sector’s contribution to Rwanda’s response to climate change.
The Danish contribution will support Project Preparation Facility (PPF), provide performance-based grants/investments for feasibility studies, research and development, proof-of-concept and demonstration.
The Minister of Finance and Economic Planning Dr. Uzziel Ndagijimana said: “This support will increase Ireme Invest lending through project preparation and capacity building to help build new infrastructure in the energy, agriculture and urban sectors that is green and sustainable”.
Ambassador Signe Winding Albjerg said “Denmark is pleased to contribute towards Rwanda’s climate change mitigation and adaptation efforts. We look forward to increasing our involvement in Rwanda’s socio-economic development ambitions”.
The Green Fund CEO Ms. Teddy Mugabo noted: “The financing will help the private sector to prepare feasible green projects that can attract financing. This will contribute towards Ireme’s overall objective which is to enhance the Rwanda’s capacity to advance financial innovation to accelerate climate mitigation and adaptation measures with the focus on leveraging private investments in low carbon, climate resilient technologies and sectors”.
Ireme invest is a green investment facility whose overall objective is to enhance Rwanda’s capacity to advance financial innovation to accelerate climate mitigation and adaptation measures with the focus on leveraging private investments in low carbon, climate resilient technologies and sectors.
Denmark and Rwanda are cooperating within multiple areas of shared interests. This includes promotion and support to Rwanda’s effort on becoming a more climate resilient and green economy, as well as Rwanda’s work with pursuing new and durable solutions for refugees and host populations. (End)