At a Glance
|Strategic Outcomes||SO1 Reduced GHG emission, SO2 Creation of green jobs, SO4 Improved air quality, SO6 Enhanced adaptation to climate change|
|Start Date||Q1 Jan 1 2019|
|End Date||q1 Dec 31 2025|
|Actual Budget (USD)||350,665|
|Actual Expenditure (USD)||354,103.1|
|GGGI Share (USD)||350,665.05|
|Poverty and Gender Policy Markers|
|Name of Client (Lead/Prime implementer if GGGI is part of a consortium)|
|Participating Organization (Funding/donor)|
|Name of consortium members, if any||MINECOFIN, FONERWA, MININFRA, RHA, MoE, REMA|
Project context, objectives and description
Achieving a successful transition towards an inclusive and green economy requires enormous financial investment by both public and private investors. his project aims to support two key players in Rwanda, namely the Rwanda Green Fund (FONERWA) and the Ministry of Finance and Economic Planning (MINECOFIN), to channel green and climate investments to implement Rwanda’s national green growth vision. In addition, this project also includes developing a pipeline of bankable projects that can be financed through both public and private investments.
This project centers on supporting and institutionalizing financing mechanisms and structures to sustainably increase access to finance for implementing Rwanda’s inclusive green growth vision, including the National Roadmap for Green Secondary City Development and Green Growth and Climate Resilience Strategy.
The objectives of the project are i.) To support the development of mechanisms and vehicles to increase low-carbon and green investments in Rwanda and ii.) To support pipeline development of green bankable projects. This project is aligned with IO1. Strengthened national, sub-national and local green growth planning, financing and institutional frameworks and IO2. Increased green growth investment flows which enable partner governments to implement green growth policies.
Type of services provided, and results achieved
Impact: Green and climate investment flows are increased in Rwanda to implement its climate-resilient and inclusive green growth vision.
Project Outputs completed in 2019:
i. Green Growth Policies:N/A
ii. Green Investments:
- NFV: Technical assistance provided to FONERWA for the development of a green incubator and accelerator facility
- Bankable Project: Case for investment and financial model on sustainable brick production developed with an estimated appreciable return on Investments between 60% to 80%, potential savings in energy cost e.g. fuel consumption of 20%, and a reduction in CO2 emissions from the decreasing use of cement and biomass.
- Bankable Project: Rapid assessment of electric bus charging infrastructure in the City of Kigali.
iii. Capacity Building and Knowledge Products:
- Total of 1 knowledge product delivered, GGGI video on E-mobility support in Rwanda.
Number of staff provided
Project Manager: Inhee Chung
Number of staff provided: Anthony Annan, Michelle DeFreese, Daniel Ogbonnaya, Pamela Birungi