Danish Support to the Rwanda Green Fund (FONERWA) for the Ireme Invest Facility 2023-2027 The overall objective is to enhance the capacity of Rwanda to advance financial innovation to accelerate climate mitigation and adaptation measures with the focus on leveraging private investments in low carbon, climate-resilient technologies and sectors. Ultimately, this will contribute to achieving the objectives of Rwanda NDC in terms of climate adaptation and mitigation as well as contribute to job creation and sustainable development more broadly.

The Ireme Invest Facility will, based on a blended financing model, mobilise private investments for green and climate resilient private sector projects in Rwanda. The Danish contribution will capitalise its new Project Preparation Facility, implemented by the Rwanda Green Fund/FONERWA as well as fund technical assistance to enhance the organisational capacity of the Rwanda Green Fund/FONERWA and specifically Ireme Invest.

Through the financial and technical support of Ireme Invest, the objective is to increase Rwandan private sector engagement in green transition, to meet the objectives of: 1) Increased no. of small, medium and large low-emission power suppliers (30,000 households electrified/120,000 persons), 2) Increased energy efficiency in building, cities, industries and appliances (634 households w. improved energy efficiency, a
total of 2,546 individuals benefitted), 3) Improved energy efficiency in agriculture and improved agri-production during droughts, 4 )Strengthened adaptive capacity and reduced exposure to climate risks (2,536 individuals w. dwelling have increased adaptive capacity to climate change), 5) Increased use of low-carbon transport (2,134 taxi driver job years and 63,504,135 electric passenger miles travelled), 6) Increased wetland rehabilitation to support water quality and flood control, 7) Strengthened institutional and regulatory systems for climate responsive planning and development (long-term sustainability of Ireme Invest, incl. sustained efforts to suppose viable green sectors projects.