Transparency and accountability must be upheld if the newly launched Fund for Environment and Climate Change (Fonerwa) is to successfully respond to Rwanda’s climatic challenges, the Prime Minister, Anastase Murekezi, has said.

Murekezi, who was speaking at the launch of Fonerwa, on Thursday in Kigali, said building private sector capacity is key to promoting green growth.

"The launch of Fonerwa shows government’s commitment to  promoting sustainable growth. It’s imperative for Rwanda to support all the initiatives aimed at protecting the environment for the realisation of Vision 2020 objectives,” said the premier.

He noted that Rwanda’s   key aspect of economic transformation requires climate change resilience.

"We will continue to support the Fund to achieve its objectives,” he said.

The climate fund has been operating since October 2012 and has already mobilised Rwf59 billion.

Eighteen projects have been approved for funding and are at various stages of implementation.

 The projects cover a wide range of development areas, including Natural Resources and Ecosystem Management, Electronic Waste Management and Renewable Energy investments.

The projects are all aimed at promoting Rwanda’s green economy through investment and employment.

 Experts’ advice

According to environmental experts, Rwanda’s economic growth could slow down unless policy makers step up efforts to respond to climate change.

In this case, prioritising green sustainable economic growth through a more resilient   strategy is critical for Rwanda’s economic development, Laure Beaufils, the Head of DFID Rwanda, said.

"Climate change is economically impacting on Rwanda’s GDP to a tune of 1 per cent annually,” Beaufils noted.

 Ankush Chabria, the Managing Director of Novel Energy Ltd, is optimistic the Fund will have far reaching impact on   small scale projects geared towards climate resilience.

Why the Fund is important

Rwanda is already exposed to climate change effects with extreme weather conditions, floods, and a great deal of soil erosion now common place.

 This could impact on the agriculture sector, infrastructure and energy, according to Lamin Manneh, the United Nations Resident coordinator for Rwanda.

"We are privileged to associate with Fonerwa. We believe the Fund will drive green economic growth and help the country  realise its Second Economic Development and Poverty Reduction (EDPRS2) objectives,” he said.

"UN and its development partners will increasingly get involved in supporting government to promote green growth strategy. Reinforcing the improvement already made toward addressing climate change requires specific investments such as the establishment of this Fund,” he added.

Government is focusing on building structures that will translate into a more sustainable green growth economy, Dr Emmauel Nkurunziza, Director General of Rwanda Natural resources Authority, noted.

"We are working on strategies that will help define climate change projects. The fund should be developed not just as an institution but as a pool of resources that will help in resource mobilisation towards addressing the impact of climate change on the economy,” Nkurunziza said.

 Dr Rose Mukankomeje, the Director General of Rwanda Environment Management Authority, said there are no short cuts on climate change.

"We have a chance if we package our resources towards addressing climate change. The idea behind  the Fund is to ensure that we know very well where the resources are coming from.”

Fonerwa is a ground breaking environment and climate change fund supposed to set   Rwanda on a green growth path through provision of technical and financial support.