MINIRENA gets accreditation from global climate fund

The international Green Climate Fund on Thursday granted accreditation status to the Ministry of Natural Resources (MINIRENA), which allows the latter to access project-based climate finance from the world’s largest climate change adaptation and resilience fund. According to a statement, the ministry is among only 20 institutions accredited by the Green Climate Fund worldwide and is the only non-financial government institution to receive accreditation status. The Green Climate Fund has mobilised US $10.2 billion that can be accessed by accredited entities to implement development and climate project that realise transformative and sustainable national development. The accreditation of the Ministry of Natural Resources presents the opportunity for Rwanda to submit projects to the fund worth an average of US $50 million that help the country transition to a green economy. Commenting on the accreditation, Dr Vincent Biruta, the Minister of Natural Resources, said the accreditation is a milestone in Rwanda’s efforts to become a green and climate resilient nation: “This is good news indeed. The accreditation to the global Green Climate Fund will further enable Rwanda to address current and future climate change impacts and accelerate sustainable national development.” MINIRENA was recognised as the first non-financial government institution to be accredited by the Green Climate Fund at its tenth board meeting, which took place in South Korea this week. A total of 20 agencies that include multi-lateral, regional and national entities have so far been granted accreditation by the fund. “We are building a vibrant network of partners – which is evidence of a rising demand for an active GCF,” said Ms. Héla Cheikhrouhou, Executive Director of the Green Climate Fund. “Seven months ago we invited institutions for the first time to become partners with us. Today, close to 100 well‐established institutions from around the world are working towards becoming GCF accredited entities,” she said. “We have added to this momentum by boosting our number of accredited entities to 20.” The global Green Climate Fund was established to mobilise climate finance and facilitate countries such as Rwanda to access resources to implement major sustainability projects. The implementation of financial resources will be managed by Rwanda’s Fund for the Environment and Climate Change (FONERWA), the continent’s largest national climate change fund. FONERWA mobilises and channels domestic and international financing to public and private environment and climate change projects. editorial@newtimes.co.rw

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MINIRENA gets accreditation from global climate fund