Kigali, Rwanda on 20th April 2021, the National Fund for Environment -FONERWA and the Global Green Growth Institute (GGGI) have signed a Memorandum of Understating (MoU) which aims to strengthen both parties’ further collaboration and cooperation in different areas. These include collaboration on the technical support towards the implementation of large-ticket-sized adaptation and mitigation projects.
a. Technical support to towards the implementation of large-ticket sized adaptation and mitigation projects including but not limited to Green Climate Fund (GCF) FP073 Strengthening Climate Resilience of Rural Communities in Northern Rwanda, Green City Kigali (GCK) project and any other projects that align with mutual interest of both organisations;
b. Technical support to achieve GCF Private Sector Facility (PSF) accreditation for Development Bank of Rwanda (BRD) to mobilize climate finance of adaptation and mitigation projects in Rwanda;
c. Technical support to jointly capitalize FONERWA’s basket fund, elaborate and operationalize green investment facilities and new financial instruments developed and managed by FONERWA including but not limited to Incubator and Accelerator facility, RGIF and any other investment facility and financial instrument that align with mutual interest of both oragnisations;
d. Technical support to develop a pipeline of green investment projects
e. Technical support for institutional building and knowledge management to support the growth of FONERWA to meet Rwanda’s sustainable development needs.
The MoU also covers partnerships in providing the technical support to develop a pipeline of green investment projects as well as technical support for institutional building and knowledge management to support the growth of Fund to meet Rwanda’s sustainable development needs.
Speaking at the signing event, the Chief Executive Officer of FONERWA Teddy MUGABO MPINGANZIMA expressed the Fund’s commitment to work with GGGI to ensure a green and climate-resilient Rwanda.
‘We’re excited about signing this MoU today. This is a continuation of an existing partnership. We look forward to continued productive cooperation in various areas including resource mobilization and supporting the Fund on various ongoing projects, she said’.
GGGI Rwanda Country Representative Mr. Okechukwu Daniel Ogbonnaya said the signed MoU is a great boost to the existing partnership between the two institutions.
‘We are thrilled to renew the partnership with FONERWA that will yield impactful results towards a green and climate-resilient Rwanda,’ he said.
Author: Fulgence Muhawenimana , PR & Comms Specialist, FONERWA
ABOUT FONERWA:
The National Fund for Environment (FONERWA) is a groundbreaking environment and climate change fund. Its purpose is to be the engine of green growth in Rwanda, while serving as a touchstone for Africa and the rest of the world. Its strategy is to provide unheralded technical and financial support to the best public and private projects that align with Rwanda’s commitment to a green economy.
FONERWA Vision is to respond to Rwanda’s current and future financing needs for environment, climate change, and green growth to accelerate goals of national sustainable economic development.