EU – RWANDA: RWANDA GETS €100 MILLION EUROPEAN INVESTMENT BANK FOR SUSTAINABLE .

The European Investment Bank (EIB) and Bank of Kigali have joined forces to provide a €100 million financing package for agroecological projects in Rwanda. This initiative aims to transform rural Rwandan agriculture by making credit more accessible to agritech startups and agribusinesses. Source EIB

The EIB funding will help farmers adapt to the challenges of climate change, including extreme weather events, droughts, and heavy rainfall.

These changes have significant economic, social, and commercial impacts on Rwandan agriculture.

“This initiative allows Rwandan agricultural actors to better prepare for the realities of climate change,” said a spokesperson for the EIB.

“The long-term goal is to build inclusive and resilient value chains, particularly in horticulture and aquaculture, to ensure food security for Rwanda’s 14 million citizens.”

Germany has pledged technical assistance to assess climate risks for businesses receiving funding.

This aligns with a key recommendation from COP28, which urged development finance institutions to prioritize investment in “food and agricultural systems, which are the frontline in the fight against climate change,” according to the Food and Agriculture Organization (FAO).

Rwanda has already begun embracing agroecology by providing training programs for farmers.

In the eastern district of Gahengeri, for example, over 2,000 farmers received training in 2022 on managing storage, drying facilities, irrigation systems, and hulling techniques.

This initiative was part of a corporate social responsibility program by Green Light, a subsidiary of Hyundai Motor Group.

This €100 million partnership signifies a significant investment in building a more climate-resilient and sustainable agricultural future for Rwanda.