The agreement was signed on June 11, 2026, during a meeting between Rwanda Green Fund Chief Executive Officer, Teddy Mugabo and Country Representative for GGGI Rwanda, Caroline Raes alongside an accompanying delegation.

According to Rwanda Green Fund, the memorandum establishes a framework for cooperation that will support Rwanda's efforts to achieve its green growth and climate objectives while contributing to the Sustainable Development Goals (SDGs), the Paris Agreement, Rwanda's Nationally Determined Contributions (NDC 3.0), and the country's Green Growth and Climate Resilience Strategy.

The partnership is expected to focus on mobilizing green investments and accelerating the development of climate-related projects capable of delivering both environmental and economic benefits.

Under the agreement, the two institutions will work together to strengthen carbon market development and support the implementation of Article 6 of the Paris Agreement, which allows countries to cooperate in achieving emissions reduction targets through international carbon trading mechanisms.

The collaboration will also explore innovative financing solutions designed to attract greater investment into climate and environmental projects.

In addition, GGGI will provide technical advisory services on green technologies and support the development of a pipeline of high-impact projects that contribute to Rwanda’s sustainable transformation.

GGGI is a treaty-based international and intergovernmental organization that supports developing countries and emerging economies in pursuing strong, inclusive, and environmentally sustainable economic growth.

The organization works with governments and partners worldwide to integrate green growth principles into national development planning and investment strategies.

The new agreement comes as Rwanda continues to position itself as a regional leader in climate action and green development, with ongoing efforts to attract climate finance, promote low-carbon economic growth, and strengthen resilience to the impacts of climate change.

Rwanda views carbon markets as a key tool in its ambition to become a developed, carbon-neutral and climate-resilient economy by 2050.

Although the country contributes relatively little to global greenhouse gas emissions, it has significant potential for carbon market projects.

Rwanda's carbon credit sector is currently dominated by improved cookstove initiatives, which account for 87 percent of all Certified Emission Reductions issued, while lighting and solar projects contribute 9 percent and 4 percent respectively.

By December 2020, Rwanda had generated more than 2.25 million carbon credits through the Clean Development Mechanism and the Voluntary Carbon Market, underscoring the growing role of carbon finance in supporting the country's sustainable development goals.