Rwanda: Rwanda Energy Results-Based Financing Program (AIIB-001016)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Rwanda
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 31, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Rwanda
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ AIIB website

Updated in EWS Sep 15, 2025

Disclosed by Bank Sep 4, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the AIIB, the objective of the proposed energy results-based financing program is to increase access to reliable, clean electricity and energy services, including clean cooking in Rwanda.

The results-based financing (RBF) project is a five-year project with three main results areas namely: Improved system reliability and network strengthening, Increased access to grid and off-grid electricity to improve livelihood and safety, and Institutional strengthening and capacity building to contribute to the Government of Rwanda's targets of universal access to electricity by 2029. The RBF Project will increase the access of households and businesses to less carbon intensive and lower greenhouse gas (GHG) emitting sources of energy. The Project comprises:

(i) distribution network rehabilitation and reinforcement;
(ii) provision of clean energy access through grid and off-grid connections, clean cooking technologies and streetlighting; and
(iii) enhancement of institutional capacity to deliver universal electricity access.

The Project will be jointly co-financed with the African Development Bank (AfDB) as the lead co-financer. Specifically, the scope involves:

  • Rehabilitation of Musanze, Gikondo, Jabana and Gasogi substations and construction of 3,855 km of MV and LV length of connections as well as 138 units of distribution transformers;
  • Provision of 200,000 grid connections, including associated distribution backbone infrastructure, and 50,000 off-grid connections through solar home systems;
  • Provision of clean cooking technologies to 100,000 households and 310 public institutions;
  • Provision of productive use equipment and appliances to 850 users;
  • Provision of 250km of streetlights along roads in secondary cities;
  • Delivery of a Clean Cooking strategy & implementation plan and enhanced E&S monitoring under the RBF reporting, along with relevant capacity building programs.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated on the company's website, the Rwandan Government adopted the corporatization model as a vehicle to implement the required reforms [in the energy and water sector]. The law repealing EWSA Law of 97/2013 of January 31, 2014 paved the way for the creation of two corporate entities which were subsequently incorporated in July 2014 with 100% government shareholding.

The Rwanda Energy Group Limited (REG) and its two subsidiaries; The Energy Utility Corporation Limited (EUCL) and The Energy Development Corporation Limited (EDCL) entrusted with energy development and utility service delivery while the Water and Sanitation Corporation (WASAC) has the mandate to develop and operate water and sanitation infrastructure and deliver related services in the country.

The Rwanda Energy Group (REG) was incorporated to expand, maintain and operate the energy infrastructure in the Country through its two subsidiaries the Energy Utility Corporation Limited (EUCL) and the Energy Development Corporation Limited (EDCL).

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Rwanda Energy Group Contractor Energy
Rwanda Energy Group Parent Company Energy owns Energy Development Corporation (EDC) Subsidiary Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AIIB Team Leaders:

Tione Mtalimanja - Senior Investment Officer
Email: tione.mtalimanja@aiib.org

Ruonan Wang - Investment Officer
Email: Ruonan.wang@aiib.org

AfDB Team Leader:

Arkins Mwila Kabungo - Senior Energy Officer
Email: a.kabungo@afdb.org

Borrower - Government of Rwanda:

Gerald Mugabe - Head of Development Finance
Email: gerald.mugabe@minecofin.gov.rw

Implementing Agency - Rwanda Energy Group (REG)/ Energy Development Corporation Limited (EDCL) / Energy Utility Corporation Ltd (EUCL), Rwanda:

Felix Gakuba - Managing Director (EDCL)
Email: fgakuba@edcl.reg.rw

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.aiib.org/en/contact/information-request/index.html

ACCOUNTABILITY MECHANISM OF AIIB

The AIIB has established the Accountability Mechanism for Project-Affected People (PPM). The PPM provides Òan opportunity for an independent and impartial review of submissions from Project-affected people who believe they have been or are likely to be adversely affected by AIIBÕs failure to implement the ESP in situations when their concerns cannot be addressed satisfactorily through Project level GRMs or AIIB Management processes.Ó Two or more project-affected people can file a complaint. Under the current AIIB policy, when the bank co-finances a project with another development bank, it may apply the other bank's standards. You can refer to the Project Summary Information document to find out which standards apply. You can learn more about the PPM and how to file a complaint at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/how-we-assist-you/index.html

The complaint submission form can be accessed in Arabic, Bahasa Indonesia, Bengali, Chinese, English, Tagalog, Hindi, Nepali, Russian, Turkish, or Urdu. The submission form can be found at: https://www.aiib.org/en/about-aiib/who-we-are/project-affected-peoples-mechanism/submission/index.html

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How it works