President Paul Kagame has launched Ireme Invest, Rwanda’s green investment facility, which raised US$104 million in its first capitalization. The facility will invest in private sector led green growth in Rwanda through sustainable finance.
The facility was launched on Monday 7th November 2022 in Sharm el Sheikh, Egypt on the sidelines of the 27th United Nations Climate Change conference commonly referred to as Conference of the Parties (COP27).
Ireme Invest is a is a groundbreaking new investment facility powered by the Rwanda Green Fund and the Development Bank of Rwanda (BRD) with support from a range of valued partners.
Ireme Invest – a one stop center for green and sustainable investment – was launched with an initial capitalization of US$104 million to support the Private sector to access green finance.
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“Climate adaptation requires big changes in how we produce and consume energy. How we move around, all that depends on climate adaptation and change. What we eat, and how it’s grown. All that comes together. In short the entire economy is affected, which means the private sector has a tremendous role to play,” said Kagame on the launch of Ireme Invest.
“Ireme Invest embodies Rwanda’s commitment to achieving tangible results toward a green economy through public-private partnerships in key areas,” he added.
The launch of Ireme Invest marks a significant milestone on Rwanda’s sustainable finance journey.
President Kagame commended the Development Bank of Rwanda for the seed capital it has invested in this fund, building on the solid track record of the Rwanda Green Fund (FONERWA).
He also appreciated partner institutions including the Governments of France, Sweden and the United Kingdom, as well as the European Investment Bank an the Green Climate Partnership Fund noting that without them all that being done by Rwandan institutions would not go very far.
The Head of State also noted that these partners have contributed to the first round of capitalisation, bringing the total to more than US$100 million.
The launch of Ireme Invest at COP27 convened leaders from global finance institutions and partners who have committed to this green finance initiative.
