The Board of Directors of the African Development Fund, the concessional lending arm of the African Development Bank Group, has approved a partial credit guarantee to support Rwanda’s mobilisation of financing to implement green and social initiatives. The project aims to enable Rwanda to raise up to €200 million competitively from international commercial banks to fund various sustainable projects.
Ahmed Attout, the Bank Group Acting Director for Financial Sector Development, highlighted the significance of this initiative, stating, "This operation demonstrates how countries can leverage their African Development Fund resources innovatively to secure long-term financing for development. This guarantee will unlock sustainable financing for Rwanda while crowding in new capital providers to the country, thereby contributing to the diversification of its funding sources.”
Mrs. Aissa Touré, the Bank Group’s Country Manager for Rwanda, emphasized the alignment of this project with the Bank Group’s Ten-Year Strategy on accelerating inclusive green growth and driving prosperous economies in Africa, as well as with Rwanda’s National Strategy for Transformation and Vision 2050, stating, “The operation will help mobilize financing for investment in target sectors aligned with the objectives of the Bank Group’s strategy.”
The financing provided by the African Development Fund will support Rwanda's efforts in areas such as renewable energy, climate adaptation, disaster risk reduction, biodiversity conservation, and affordable housing. This initiative not only aligns with Rwanda’s national development strategies but also positions the country as a credible sustainable borrower in international financial markets.
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