KIFC reviews Rwanda sustainable finance roadmap progress at mid-term workshop

Rwanda was the first African country to submit its revised Nationally Determined Contributions and has committed to reducing greenhouse gas emissions by 38 per cent relative to business-as-usual levels.

by akinbodenaphtal@gmail.com

The Kigali International Financial Centre (KIFC) and key stakeholders have convened a workshop to review Rwanda’s Sustainable Finance Roadmap (2022–2032) and assess mid-term findings, with discussions focused on progress, achievements and remaining challenges.

The review is intended to inform the development of the Rwanda Sustainable Finance Roadmap 2.0, a successor framework that will strengthen the country’s ambition to become an international hub for green and sustainable finance.

Rwanda has already embedded its United Nations Sustainable Development Goals and Nationally Determined Contribution commitments into Vision 2050, its long-term national strategy. The country’s green development agenda is further codified in the Green Growth and Climate Resilience Strategy, which extends to 2050. Rwanda is a partner of the Global Green Growth Institute, an NDC Partnership country, and has applied for membership in the Partnership for a Green Economy.

KIFC recognises that the financial sector must play a central role in driving sustainable growth through capital mobilisation, resource allocation and the management of climate-related risks. The centre aims to attract international capital to finance local and regional green and sustainable projects, positioning Kigali as a pan-African hub for sustainable finance.

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The Sustainable Finance Roadmap provides the strategic pathway for this ambition. It is structured around two complementary outcomes: making finance sustainable and scaling sustainable finance. Making finance sustainable requires financial institutions, capital providers and service providers to identify, manage and reduce transition, physical and liability risks linked to climate change and other environmental factors.

Scaling sustainable finance focuses on ensuring that the products, instruments and financing structures needed to meet climate, environmental and social goals are available at appropriate risk-adjusted cost to Rwandan households, companies, investors and financial institutions, as well as to regional and international investors.

KIFC’s vision is for Rwanda to emerge as a leading pan-African hub for local, regional and international sustainable finance, leveraging its strategic location, efficient financial system and high-quality human capital.

 

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