KIGALI, Oct. 18 (Xinhua) -- Rwanda on Thursday launched a national strategy in Kigali, the Rwandan capital, to enhance the country's climate resilience and environmental preservation while promoting economic growth and social well-being.
The National Climate and Nature Strategy is designed to accelerate investment in climate action and nature conservation, according to the Ministry of Finance and Economic Planning.
Speaking at the launch, Tesi Rusagara, Rwanda's minister of state for public investments and resource mobilization at the Ministry of Finance and Economic Planning, emphasized the urgent need to mobilize both domestic and international resources to address the crises of climate change and biodiversity loss.
"Rwanda is committed to driving climate resilience and sustainable growth by mobilizing resources. Our Climate and Nature Finance Strategy is a testament to this commitment, creating a favorable environment for green financing," Rusagara said.
She underscored the importance of private-sector investment and international partnerships in achieving the country's climate goals.
The strategy focuses on creating a conducive environment for green financing, attracting domestic and foreign investors. It aims to use innovative financial mechanisms, such as green bonds and carbon credits, to support Rwanda's transition to a low-carbon, climate-resilient economy.
Stella Nteziryayo, chief economist at the Ministry of Finance and Economic Planning, presented the strategy's key priorities, which included increasing low-carbon, climate-resilient, and nature-positive investments, maximizing global climate finance, and encouraging private sector involvement.
She said that Rwanda aims to bridge a financing gap of 6.5 billion U.S. dollars for its Nationally Determined Contribution targets by 2030.
"The key role is de-risking-piloting unproven business ideas. Blended finance structures and regulatory support are crucial to attract private sector players and drive innovation for a sustainable future," said Teddy Mpinganzima Mugabo, chief executive officer of the Rwanda Green Fund.
Mugabo highlighted the need for strategic partnerships and innovative financing to close the financial gap and ensure Rwanda meets its ambitious climate objectives. ■