Early Warning System

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

African Development Bank (AFDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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 15, 2024

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 - The Rwanda Green Fund (FONERWA) and Banque Rwandaise de Développement (BRD)

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Finance

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Grant

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 15.75 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

Primary Source

Original disclosure @ AFDB website

Updated in EWS Jun 27, 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 Bank’s website, the project consists of a financing from the Green Climate Fund (GCF) to the Republic of Rwanda (Rwanda) for the implementation of the Rwanda Green Investment Facility (RGIF) program. Under the supervision of the Rwandan Ministry of Finance and Economic Planning (MINECOFIN), the RGIF program is an innovative financing mechanism aimed at mobilizing long-term, competitive climate finance for green, climate-resilient projects that have an impact in Rwanda. It comprises two pillars operating in an integrated approach: 1) the Project Preparation Facility (PPF), managed by the Green Fund of Rwanda (FONERWA2) to increase the bankability of projects; and 2) the Credit Facility (CF), managed by the Rwandan Development Bank (BRD) to deploy loans for green and climate-resilient projects. The RGIF program will be implemented from2024 over a 7-year period (Phase 1: years 1-4; Phase 2: years 5-7).

The development objective of the operation is to support the strengthening of climate resilience and green growth in Rwanda through financing and implementation of green and climate resilient projects. Its specific objectives include: (i) strengthening Rwanda's attainment of its climate mitigation and adaption targets; (ii) creating water usage savings and a reduced usage of fertilisers through climate resilient and smart agriculture; and (iii) supporting job creation in the green economy.

The direct beneficiaries of the project are the Government of Rwanda (GR), FONERWA and BRD, through the mobilization of concessional and long-term climate financing for the implementation of the RGIF program; as well as the final beneficiaries, namely the promoters (large companies, SMEs), of the green and climate-resilient projects financed and strengthened through the RGIF program. The indirect beneficiaries of the project are large companies, SMEs, women, men and economic agents in Rwanda who will benefit from the positive environmental, economic and social impacts of the GRIF program.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environmental Category: [2] Moderate Risk

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

African Development Bank (AFDB)

Finance Type: Standard grant
Commitments (UA): 11,846,466
Conversion Rate USD (2024-10-30): 1,32990

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.

Akane Ariane OGURI ZOUKPO SANANKOUA
Division Manager, PIFD2
African Development Bank
a.zoukpo-sanankoua@afdb.org
www.afdb.org