Kagame sheds light on Rwanda’s strategy to become a destination for international climate financing, investment

By Jane Babirye
On 6 September 2023 at 11:59

President Paul Kagame has shed light on Rwanda’s s plan to enhance the private sector’s involvement in the development of a sustainable green economy.

The Head of State made the disclosure at the inaugural Africa Climate Summit (ACS) happening in Kenya from 4th to 6th, August, 2023.

In his speech, Kagame emphasised Rwanda’s strategy to ‘position itself as an attractive destination for international climate financing and investment, which prompted the country to launch the ‘Ireme Invest’.

The latter is a green investment facility created by Rwanda Green Fund in partnership with the Development Bank of Rwanda at the 2022 United Nations Climate Change Conference or Conference of the Parties (COP 27).

“We have been working closely with the International Monetary Fund (IMF) as a participant in the resilient and sustainability trust and have access to long term financing to further integrate climate into our economic policies,” he explained.

“So far, more than US$200 million has been mobilised from domestic and international partners including the European Investment Bank and the Green Climate Fund,” added Kagame.

Kagame arrived in Kenya on Tuesday 5th, August, 2023 to attend the ACS co-hosted by the Government of Kenya and the African Union Commission.

The summit was championed by Kenyan President, Dr. William Ruto as an effort to ‘address the increasing exposure to climate change and its associated costs, both globally and particularly in Africa’.

Under the theme ‘ driving green growth and climate finance solutions for africa and the world’, the three day summit brought together different dignitaries like; President Azali Assoumani of the Union of Comoros and Chairperson of the African Union (AU), Moussa Faki Mahamat, the Chairperson African Union Commission (AUC); Ursula Gertrud von der Leyen, President of the European Commission and Patricia Scotland, the Secretary -General Commonwealth, among others.

President Kagame has shed light on Rwanda’s strategy to become a destination for international climate financing and investment.
President Kagame is among other dignitaries that attended the Africa Climate Summit 2023.