KIGALI, Nov. 8 (Xinhua) -- Rwanda has launched a new green investment facility to spur investment in the private sector-led green growth in the country by availing sustainable finance.
Dubbed Ireme Invest, the investment facility with 104 million U.S. dollars initial capitalization provided by the Development Bank of Rwanda and other partners, was launched as a side event at the COP27 which opened in Egypt on Monday.
The launch of Ireme Invest is a significant milestone for Rwanda, Rwandan President Paul Kagame said during the event. "Ireme Invest embodies Rwanda's commitment to achieving tangible results toward a green economy through public-private partnerships in key areas," he said.
He noted that climate adaptation requires big changes in how countries produce and consume energy."How we move around, all that depends on climate adaptation and change. What we eat and how its grown; all that comes together. In short the entire economy is affected, which means the private sector has a tremendous role to play," said Kagame.
According to Kagame, whether the progress made at the COP27 is big or small, there are still many tools available to countries to get things done on the ground.
"That is really the key point we are driving home with the launch of Ireme Invest, and with green public-private partnership generally," he said.
World leaders, government representatives, experts, representatives of the private sector and policymakers have gathered at the COP27 to discuss pressing matters on climate change and effective responses. ■